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 October 15, 2004 #04-55
E-mail: [email protected]

ACB SUPPORTS INCREASE IN CRA SMALL BANK LIMIT

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WASHINGTON, D.C. — America’s Community Bankers has strongly supported the FDIC proposal to make the Community Reinvestment Act streamlined examination available to banks with up to $1 billion in assets from the current $250 million. ACB has a longstanding policy position favoring the increase.

“ACB strongly believes that using the same three-prong lending, investment and service examination process to measure the compliance of a bank with $300 million in assets and a bank with $300 billion in assets does not make any sense,” ACB said in its comment letter.

“Small banks should be able to use the valuable and scarce human and financial resources in truly understanding and meeting the needs of their communities rather than trying to prove compliance with the broader examination requirements,” ACB added.

ACB also supported expanding the community development criterion to the small bank streamlined examination for institutions with assets between $250 million and $1 billion in assets.

The Office of Thrift Supervision previously raised the small bank examination limit to $1 billion for the institutions it supervises.

The comment letter is attached.

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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