Just a friendly reminder that your Community Reinvestment Act (CRA) public file must be updated by April 1st. This includes the public files kept at both the main office and each branch location (if applicable). The following are some examples of required file information that are often overlooked:
- 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 file relating to the assessment area in which the branch is located.