ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release May 11, 2005 #05-26
E-mail: [email protected]

ACB STRONGLY SUPPORTS CRA PROPOSAL

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WASHINGTON, D.C. — America’s Community Bankers has registered its strong support for the proposal by the Federal Reserve Board, the FDIC and the Office of the Comptroller of the Currency to increase the Community Reinvestment Act small bank examination limit to $1 billion from the current $250 million.

At the same time in its comment letter, ACB said it “strongly recommends that the agencies look at the revisions made by the Office of Thrift Supervision as an example of regulatory relief.” OTS has provided retail banks with assets of more than $1 billion with additional flexibility in meeting the CRA requirements.

“ACB strongly urges the agencies to work with one another and with the Office of Thrift Supervision to continue the review of the implementing CRA regulation and the accompanying guidance in the form of questions and answers and the examiner guidance,” ACB said.

On the proposal’s plan to expand the community development test, ACB told the three agencies that the new test is not necessary, but “is a better alternative than the current three-pronged lending, investment and services tests for banks with assets between $250 million and $1 billion.”

Click here for the comment letter.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

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