228 loan - An Overview
228 loan - An Overview
Blog Article
The Board evaluations the influence and responsiveness in the financial institution's Local community development loans and Local community improvement investments that profit or serve the nationwide location, as supplied in § 228.15.
(E) Allocation of the greenback quantity of the community advancement loan or Local community development financial commitment to geographic areas served from the loan or expenditure:
) The amount of examining and discounts accounts opened digitally and through other supply techniques by census tract revenue amount for each calendar calendar year; and
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The Board considers the utilization of a bank's deposit products and solutions conscious of the requirements of reduced- and average-profits men and women, households, or homes based upon the following information:
(A) Combines the efficiency scores for each supporting conclusion for every big product or service line into a product line rating; and
(6) A financial institution's closed-stop household home loan lending, tiny small business lending, smaller farm lending, or auto lending in distressed or underserved nonmetropolitan Center-money census tracts where by a lender's nonmetropolitan facility-dependent assessment location or nonmetropolitan retail lending evaluation location includes not many or no small- and reasonable-money census tracts; and
) Massive banking institutions that experienced belongings under or equivalent to $10 billion as of December 31 in both of your prior two calendar a long time and that do not operate branches.
The Board evaluates a financial institution's community growth solutions performance inside of a Point out or multistate MSA, as applicable, or nationwide place, and assigns a conclusion for people parts, based on the following two parts:
In a very facility-dependent assessment place or outdoors retail lending area, an item line is a major products line Should the financial institution's loans in that solution line comprise fifteen % or maybe more in the lender's loans across the entire bank's product or service lines in the ability-centered assessment place or outside retail lending spot, as identified pursuant to paragraph II.b.1 of appendix A to this portion.
(B) Within just 5 calendar days in the ask for, all the data that the financial institution is necessary to take care of below this area in the general public file relating to the facility-based mostly evaluation place by which the branch is located.
(one) All composed opinions acquired from the public for the current calendar year (up to date on a quarterly basis for the prior quarter by March 31, June thirty, September thirty, and December 31) and each with the prior two calendar a long time that specifically relate on the bank's effectiveness in helping to satisfy Group credit score desires, and any reaction towards the reviews from the financial institution, if neither the comments nor the responses incorporate statements that replicate adversely on The nice identify or track record of any people in addition to the bank or publication more info of which would violate distinct provisions of legislation;
A lender's approach will have to give a justification that demonstrates the necessity for the next facets of a program a result of the financial institution's organization design (
A lender needed to report house house loan loan details pursuant to twelve CFR part 1003 need to incorporate in its community file a penned notice that the bank's HMDA Disclosure Assertion may be obtained on the Consumer Fiscal Security Bureau's (CFPB's) Site at: