WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) has dropped a bombshell today by releasing its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). This list covers evaluation ratings assigned to institutions in October 2024, shedding light on how these financial giants are meeting their community obligations.
The CRA, a landmark 1977 law, mandates that banks serve the credit needs of all communities, including low- and moderate-income neighborhoods, without compromising safe and sound operations. The public disclosure of these evaluations is a direct result of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), which requires transparency in bank operations.
Obtaining a consolidated list of all state nonmember banks evaluated since July 1, 1990, is as easy as a phone call to the FDIC’s Public Information Center at (877) 275-3342 or (703) 562-2200. Each bank is legally required to provide its own CRA evaluation upon request.
This latest release by the FDIC comes as no surprise, given the agency’s ongoing commitment to financial transparency and oversight. The full list, including ratings for each institution, can be accessed through the attached document or directly from the FDIC’s official website.
For those looking to dive deeper into the details of these evaluations, the January 2025 List of Banks Examined for CRA Compliance is a must-read. It provides a comprehensive view of how banks are faring in their community reinvestment efforts.
The release of this list underscores the FDIC’s dedication to ensuring that financial institutions are meeting their obligations under the CRA and serving the needs of all communities. Stay tuned as we continue to bring you the latest on regulatory news and financial transparency.
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Key Facts
- Agency: FDIC
- Category: Public Corruption|Fraud & Financial Crimes|Organized Crime
- Source: Official Source ↗
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