Community Reinvestment Act Policy Update

Product Update Notification

Community Reinvestment Act Policy Template Update - 03/23/06

Bankpolicies.com is proud to announce the immediate availability of our revised Community Reinvestment Act (CRA) Policy Template product.

The revision to this product is in response to the Federal Reserve Board Joint Press Release "Banking Agencies Issue Final Community Reinvestment Guidance" dated 3/2/06. This final guidance implements recent changes to Community Reinvestment Act (CRA) regulations and clarifies among other things the availability of CRA consideration for bank activities that revitalize or stabilize designated disaster areas.

http://www.federalreserve.gov/boarddocs/press/bcreg/2006/20060302/default.htm

We felt it was in the best interest of our clients to incorporate this new guidance and other rule clarifications provided in the "Interagency Questions and Answers Regarding Community Reinvestment" into our CRA Policy Template product.

What's New

Topic 9 - Effect of CRA Performance on Applications.

What's Revised

Topic 4 - Definitions. The definitions of Branch, Community Development, Community Development Loan. Community Development Service, Income Level, Limited Purpose Bank, Qualified Investment, Small Bank, Small Business Loan and Wholesale Bank were revised.

Topic 5 - Performance Tests, Standards and Ratings. A new subtopic entitled "Performance Context" was added. The subtopics of "General" and "Assessment Factors" were revised.

Topic 6 - Small Bank Performance Standards. The subtopics of "Performance Criteria - Small Bank" and "Performance Criteria - Intermediate Small Bank" were revised.

Topic 7 - Strategic Plan Guidelines. The "Plan Contents" (Measurable Goals) subtopic was revised.

Topic 8 - Assigned Ratings. Three new subtopics "Single State Rating Assignment," "Multi-State Rating Assignment" and "Lending, Investment and Service Tests" were added. The "Safe and Sound Operations" subtopic was deleted to eliminate redundancy.

Topic 11 - Assessment Area Delineation. The subtopic "Rules for Delineating Assessment Area" (Adjustments) was revised.

Topic 12 - Data Collection, Reporting and Disclosure. The subtopic "Required Loan Information to be Collected and Maintained" was revised.

Topic 13 - CRA Public File and Notice. The subtopics "Public File Contents" (Additional Information Available to the Public) and "Public File and Notice Location Requirements" were revised.

Product Contents

Purpose and Contents - Topic 1

Policy Statement - Topic 2

Structure of Accountability - Topic 3

Definitions - Topic 4

Performance Tests, Standards and Ratings - Topic 5

Small Bank Performance Standards - Topic 6

Strategic Plan Guidelines - Topic 7

Assigned Ratings - Topic 8

Effect of CRA Performance on Applications - Topic 9

Ratings Under Appendix A - Topic 10

Assessment Area Delineation - Topic 11

Data Collection, Reporting and Disclosure - Topic 12

CRA Public File and Notice - Topic 13

Non-Discrimination Policy - Topic 14

Complaint Policy - Topic 15

CRA Branch Closure Policy - Topic 16

Charitable Contributions Policy - Topic 17

Staff Training - Topic 18

Retention of Documents - Topic 19

Includes the following form templates:

CRA Charitable Contribution Request Form (1 page)
CRA Data Collection Form (1 page)
CRA Employee Involvement Report (1 page)

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$275.00 - List Price

- or -

$50.00 - Update Price (applies only to clients who have previously purchased our CRA Policy Template product) including the purchase of the following prior update if applicable):

CRA Policy Template Update - 10/18/05

If you have ordered this product after 2/23/06 you are eligible to receive the Product Update at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the upgrade or list price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

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