228 loan - An Overview
228 loan - An Overview
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The Board evaluates a small lender's record of helping to satisfy the credit rating desires of its entire community pursuant to your Compact Lender Lending Take a look at as provided in paragraph (a)(two) of this part, Except if the little bank opts to generally be evaluated pursuant to your Retail Lending Check in § 228.22.
228 loan is not responsible for any on the terms introduced to you. Fees, charges, and conditions are immediately selected by the lender.
(ii) To acquire possession or control of shares or all or substantially the entire property of a bank, to bring about a bank to be a subsidiary of the bank Keeping company, or to merge or consolidate a lender Keeping firm with another bank Keeping business in the transaction that requires acceptance underneath segment 3 from the Bank Holding Enterprise Act (twelve U.S.C. 1842);
In Every single applicable Retail Lending Exam Area, the Board evaluates originated and ordered loans in each of the following products traces that is a important product line, as described in paragraph (d)(two) of this portion:
) Particular details about the greenback quantity of the Neighborhood improvement loan or Local community enhancement financial commitment which was allotted to each county served by the loan or expense, if out there.
A bank issue to this aspect may possibly ask for the Board verify that a loan, expenditure, or service is eligible for Neighborhood growth thought by submitting a request to, and in a format prescribed by, the Board.
(B) The effectiveness in the lender's methods for delivering retail banking products and services and the availability and responsiveness on the financial institution's retail banking items, pursuant to § 228.23, as relevant;
Pursuant to § 228.21, the Group Enhancement Funding Exam evaluates the lender's document of helping to fulfill the credit history demands of its full community by way of Local community growth loans and Neighborhood enhancement investments (
Issue into the geographic necessities in paragraph (b) of the section, a sizable bank will have to delineate, for a specific calendar year, a retail lending evaluation location in almost any MSA or from the nonmetropolitan region of any Point out where it originated:
In the expression of the plan, a financial institution could request the Board to approve an amendment to the strategy inside the absence of a material alter in situations.
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) The number of checking and savings accounts opened digitally and through other shipping and delivery systems by census tract profits level for each calendar 12 months; and
(one) All created reviews received from the public for the current yr (up-to-date over a quarterly basis with the prior quarter by March 31, June thirty, September thirty, and December 31) and every of your prior two calendar many years that precisely relate on the lender's effectiveness in assisting to fulfill Group credit history desires, and any reaction to your opinions by the lender, if neither the comments nor the responses contain statements that replicate adversely on The great identify or name of any folks besides the financial institution or publication of which might violate precise provisions of regulation;
The Board evaluates a click here minimal objective lender's community advancement financing effectiveness inside the nationwide spot, pursuant to § 228.19, and assigns a summary for that establishment depending on the Board's thought of the following two factors: