Just a friendly reminder that your Community Reinvestment Act (CRA) public file must be updated by April 1, 2016. This includes public files kept at both the main office and each branch (if applicable).
For a complete listing of items required to be included in the public file, please refer to Sections 345.43 (FDIC), 228.43 (FRB), and 25.43 (OCC).
The following items are commonly missed:
- Any branches opened or closed by the financial institution in the current year and each of the prior two calendar years;
- Current services offered by the financial institution;
- Up to date transaction fees charged by the financial institution; and,
- For small and intermediate small financial institutions only, an up to date loan to deposit ratio for each quarter of the prior calendar year.
The branch file must include:
- A copy of the public section of the bank’s most recent CRA Performance Evaluation and a list of services provided by the branch; and,
- Within five calendar days of the request, all the information in the public files relating to the assessment area in which the branch is located.