228 loan - An Overview
228 loan - An Overview
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) Local community advancement loan or Neighborhood enhancement investment decision element, like the specific style of financing and sort of entity supported (
signifies a financial institution that's not within the business of extending closed-finish house mortgage loans, modest business enterprise loans, little farm loans, or car loans evaluated under § 228.
Except for a small lender that opts to get evaluated pursuant to the Retail Lending Examination in § 228.22, the Board assigns conclusions for that performance of a small lender evaluated below this section as supplied in appendix E to this section.
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(4) Are available to folks at a office exactly where many staff members are very low- or reasonable-cash flow, based upon U.S. Bureau of Labor Stats info for the average wage for personnel in that particular profession or industry;
(ii) While in the prior two calendar a long time, the financial institution originated or bought outside the house the lender's facility-based mostly evaluation locations much more than 50 per cent of your bank's household mortgage loans, multifamily loans, small organization loans, little farm loans, and auto loans if automobile loans are a product line for your financial institution, as explained in paragraph II.a.2 of appendix A to this aspect.
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The Lender Assessment Area Neighborhood Development Financing Metric actions the dollar volume of the lender's Local community progress loans and Local community progress investments that gain or serve a facility-primarily based assessment spot compared to deposits within the bank that can be found in the facility-primarily based evaluation spot, calculated pursuant to paragraph II.a of appendix B to this part.
(i) All the information demanded for the bank's general public file have to be maintained at the principle Office environment and, if an interstate bank, at a single branch office in Each and every Condition; and
(A) A duplicate of the general public segment of your bank's most up-to-date CRA efficiency analysis and an index of providers furnished by the department; and
The skin retail lending space is comprised of component geographic places. A part geographic space is any MSA or the nonmetropolitan location of any Condition, or portion thereof, incorporated within just the outside retail lending location.
The Board considers The provision of distant services services in the next geographic parts:
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