5 Simple Techniques For 228 loan
5 Simple Techniques For 228 loan
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. The bank need to include the created observe in the general public file in just three small business days after receiving notification from your FFIEC of the availability from the disclosure statement.
The Board evaluates a financial institution's branch availability and providers in a facility-based mostly evaluation region according to the next:
Apart from a little lender that opts being evaluated pursuant to the Retail Lending Take a look at in § 228.22, the Board assigns conclusions to the functionality of a small lender evaluated below this area as offered in appendix E to this part.
(A) Distributing the initial draft system for publication around the Board's Site and by publishing the First draft program within the financial institution's Web-site, If your financial institution maintains one particular; and
(D) A lender aside from a substantial bank may possibly incorporate retail banking expert services or retail banking products and solutions element(s) and accompanying yearly measurable ambitions in its prepare.
A financial institution issue to this aspect may well ask for that the Board verify that a loan, expenditure, or support is eligible for community development thought by distributing a request to, As well as in a structure prescribed by, the Board.
Before submitting a draft intend to the Board for approval pursuant to paragraph (h) of this portion, a financial institution should:
) Positive aspects or serves one or more geographic parts with lower amounts of community advancement funding;
To evaluate a financial institution's retail banking solutions, the Board considers a financial institution's department availability and products and services supplied at branches, remote services facility availability, and digital shipping devices as well more info as other shipping and delivery methods, as follows:
A financial institution may perhaps post extra info to the Board over a confidential foundation, although the plans mentioned while in the plan has to be adequately certain to permit the public plus the Board to evaluate the deserves with the approach.
Affiliated depository institutions supervised by the exact same Federal financial supervisory agency may well put together a joint plan, offered the program involves, for every lender, the relevant general performance exams that could implement during the absence of the accepted system.
A bank that has been accredited to become evaluated beneath a strategic prepare should include things like in its community file a copy of that strategy although it is in impact. A lender needn't incorporate information and facts submitted for the Board on the confidential foundation along with the strategy.
); the phrase “uninsured State branch” signifies a Condition department the deposits of which aren't insured through the Federal Deposit Insurance plan Company; the expression “minimal department” usually means a State department that accepts only deposits that are permissible for a company organized under part 25A from the Federal Reserve Act (12 U.S.C. 611 et seq.
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