Posting the CRA Statement

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Question:

We are undergoing our CRA exam. We have always had a CRA Notice posted verbatim from the Reg and we also have a Community Reinvestment Act Statement posted. This Statement lists our assessment area, our loan products and names the townships in which we finance public projects. Is it necessary to have this "CRA Statement" and if so, what information is it required to contain?

Answer:

There is no requirement for a CRA Statement. I believe this went away with the changes to CRA in the mid-90's.

First published on BankersOnline.com 1/29/07