228 loan - An Overview
228 loan - An Overview
Blog Article
The Board or its appointed agent, prepares on a yearly basis, for every MSA or metropolitan division (including an MSA or metropolitan division that crosses a Point out boundary) and the nonmetropolitan percentage of Every single Point out, an mixture disclosure statement of described compact business lending, modest farm lending, community advancement lending, and Neighborhood enhancement investments by all depository establishments matter to reporting underneath this section or 12 CFR element twenty five or 345.
(one) Thing to consider of your greenback volume from the minimal objective bank's Neighborhood advancement loans and community progress investments that gain or serve the facility-based evaluation place; and
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. Moreover, Should the Board thought of the house property finance loan lending of the financial institution's operations subsidiaries or, at a bank's election, the Board regarded the house mortgage lending of other financial institution affiliates, the bank ought to include things like in its community file the names of your operations subsidiaries and the names with the affiliates in addition to a written observe the functions subsidiaries' together with other affiliate marketers' HMDA Disclosure Statements could possibly be obtained for the CFPB's Web site.
The Restricted Goal Financial institution Community Development Funding Metric actions the dollar volume of a bank's Group progress loans and Group progress investments that benefit or serve all or Element of the nationwide area in comparison with the financial institution's belongings calculated pursuant to paragraph III.a of appendix B to this component.
Pursuant to 12 U.S.C. 2906, the Board presents conclusions derived below this component independently for metropolitan areas during which a financial institution maintains a number of domestic branch workplaces and for that nonmetropolitan location of the Condition if a bank maintains one or more domestic branch workplaces in this kind of nonmetropolitan place.
A bank must make accessible to the general public for inspection, upon request and for free of charge, the data essential On this portion as follows:
(B) For each of a financial institution's facility-centered assessment locations in just a nonmetropolitan spot, the Nonmetropolitan Nationwide Community Enhancement Financing Benchmark actions the dollar quantity of community enhancement loans and Group improvement investments that advantage or provide nonmetropolitan areas from the nationwide spot for all substantial depository establishments compared to deposits located in nonmetropolitan locations during the nationwide spot for all large depository establishments.
The limited objective financial institution's community enhancement financing performance in all of its facility-primarily based assessment areas; and
Throughout the time period of the system, a bank might request the Board to approve an amendment to the prepare from the absence of a cloth change in instances.
(B) Why it is necessary and appropriate to amend its plan check here while in the absence of a fabric change in circumstances.
means a loan, like a lawfully binding motivation to extend credit, for instance a standby letter of credit score, that supports Group improvement, as explained in § 228.13. A Local community enhancement loan will not involve any property home loan loan considered underneath the Retail Lending Exam in § 228.
For automobile loans, the Board compares a financial institution's geographic and borrower distributions to the applicable community benchmarks, as presented in paragraph (file) of this section and part VI of appendix A to this aspect.
(B) The extent to which the plan has adequately justified the necessity for any plan and each aspect of the plan as demanded in paragraph (d) of the area.