Logo: Independent Community Bankers of America - ICBA The Nation's Voice for Community Banks (R)
Username:
Password:

Graphic: Arrow Forgot password?
Graphic: Arrow Request Login
Contact ICBA Site Map Search ICBA
ArrowICBA Home
ArrowAbout ICBA
ArrowAbout Community Banking
ArrowAdvocacy
ArrowConsumer Education & Resources
ArrowEducation
ArrowConvention
ArrowIndustry Resources
ArrowMarketing Resources
ArrowMembership
ArrowPress Room
ArrowSocial Media
ArrowMain Street MarketĀ®
ArrowPublications





Members Only = Access Restricted
Last update: 04/20/14

ICBA News Release

ICBA Independent Community Bankers of America

PR Contact
Tim Cook
ICBA Director of Communications
202-659-8111

Industry Expert
Karen Thomas
ICBA Executive Vice President

FOR IMMEDIATE RELEASE

Community Reinvestment Act Remains Hot Button Issue

Over 7,000 Comment Letters Delivered to FDIC

Washington, D.C. (Oct. 14, 2004) - As the Oct. 20 deadline approaches to comment on the Federal Deposit Insurance Corp. (FDIC) proposal to expand eligibility for streamlined small-bank Community Reinvestment Act (CRA) examinations, the FDIC has received more than 7,000 letters and emails on the issue. Unfortunately, some misunderstandings still exist regarding the change.

"Obviously there has been a great deal of recent interest in CRA," said Camden R. Fine, president and CEO of Independent Community Bankers of America (ICBA). "However, some activist organizations have circulated inaccurate or misleading information about the proposed changes to simplify the CRA exam process for some community banks."

"All banks will continue to comply with CRA requirements under the proposed changes," Fine said. "The difference is more community banks will avoid wasteful administrative costs and be able to ensure funds are reinvested locally-not diverted elsewhere."

ICBA has published a document outlining the facts regarding the change to the CRA asset-size limits. The document, titled "The Truth about CRA," lists the six biggest myths about CRA and the asset-size limits for banks eligible for streamlined exams.






ArrowsPrintable version



Button: Share

All contents copyright 2014 Independent Community Bankers of America. All rights reserved.
Privacy Statement | Legal Notice