FIL-9-2010: Community Reinvestment Act – Revisions to Interagency Questions and Answers

Financial Institution Letter Community Reinvestment Act Revisions to Interagency Questions and Answers FIL-9-2010 March 11, 2010 Summary: The FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency and the Office of Thrift Supervision have published revisions to the Interagency Questions and Answers Regarding Community Reinvestment (Q&As). After considering comments received on the proposed Questions and Answers, the agencies adopted one new question and answer, and two revised questions and answers. A new question provides examples of how to demonstrate that community development services meet the criteria of serving low- and moderate-income areas and people. The revised Q&As enable consideration of a pro rata share of mixed-income affordable housing projects…(read more)

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