AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Katrina Creates CRA Opportunities.(Community Reinvestment Act)
Washington -- The federal banking regulators need to be more consistent in allocating Community Reinvestment Act credit to depository institutions that are providing assistance to areas and persons impacted by Hurricanes Katrina and Rita, according to one community development group.
"The agencies are inconsistent on who will get credit for what," said Judy Kennedy, president of the National Association of Affordable Housing Lenders.
The banking and thrift agencies recently issued proposed CRA guidance that asserts all banks will receive CRA consideration for their activities in disaster areas.
Separately, the Office of Thrift Supervision has issued a memorandum that allows thrifts to receive CRA credit for their lending, investment and service activities to revitalize or stabilize areas impacted by Katrina and Rita, even though it is outside their CRA assessment area.
"We will also recognize activities that benefit displaced individuals," OTS says in the Dec. 20 memorandum.
"OTS is on the right track," Ms. Kennedy said. However, she is disappointed that the other agencies have not ...
- Banks squeezed between CRA, credit quality. (Community Reinvestment Act)
- Magazine article from: Business First-Columbus Jackson, William April 29, 1991 700+ words
...records of compliance with the Community Reinvestment Act, which requires banks to provide...the requirements of the Community Reinvestment Act. Of the 15 state banks that have...four years implementing the Community Reinvestment Act as deputy comptroller of the currency...
- Banks Can Earn CRA Credit in Gulf Coast Recovery Plan.(community reinvestment...
- Magazine article from: Mortgage Servicing News April 1, 2006 700+ words
...assisting with the recovery and rebuilding of the disaster areas hit by Hurricanes Katrina and Rita are eligible for Community Reinvestment Act credit for at least three years, according to federal regulators. The new guidance states that loans, investments and...
- CharterMac Completes $108 Million 4.40% Cumulative Perpetual Convertible...
- Press release article from: Business Wire July 29, 2005 700+ words
...Perpetual Convertible Community Reinvestment Act Preferred Shares, Series...shares with respect to CRA credit allocations, subject to...positive consideration and CRA credit under the Community Reinvestment Act ("CRA") "investment...
- NBA wins CRA rule change. (National Bank Association, new rule for Community...
- Magazine article from: Black Enterprise Stewart, Pearl August 1, 1992 700+ words
...majority-owned financial institutions Community Reinvestment Act (CRA) credit for activities with minority and womenowned banks...institutions' compliance with the Community Reinvestment Act of 1977. The CRA requires financial institutions...
- Banks and Thrifts May Get CRA Credit for Helping B&C Borrowers.
- Magazine article from: National Mortgage News April 30, 2007 700+ words
...mortgages by awarding them Community Reinvestment Act credit. "Financial institutions...receive favorable Community Reinvestment Act consideration for programs that...Banks and thrifts also can earn CRA credit by refinancing subprime borrowers...
- Regulators to Give CRA Credit for Recovery Work.
- Magazine article from: National Mortgage News February 27, 2006 700+ words
...by Hurricanes Katrina and Rita are eligible for Community Reinvestment Act credit for assisting with the rebuilding effort in the Gulf...the Office of Thrift Supervision stated that it would award CRA credit to all thrifts (regardless of location) that provide assistance...
- Office of Thrift Supervision and Operation HOPE Highlight CRA Credit to...
- Press release article from: Business Wire December 20, 2005 700+ words
...the country to elect to participate and receive favorable CRA credit for providing financial counseling to hurricane victims in...disaster financial counseling under the Federal Community Reinvestment Act (CRA) law. OTS, the Small Business Administration, and...
- CRAFund Advisors: Federal Regulators OK CRA Credit for U.S. Banks Investing in...
- Press release article from: PR Newswire March 15, 2006 700+ words
...the wake of the devastation inflicted by Hurricanes Katrina and Rita, U.S. banks and thrifts may receive Community Reinvestment Act (CRA) consideration in areas defined as a federal disaster area for up to 36 months after such designation. The agreement...
- CharterMac to Offer 'Community Reinvestment Act Preferred Shares'.
- Magazine article from: National Mortgage News July 29, 2002 700+ words
...offering "Community Reinvestment Act Preferred Shares...Convertible Community Reinvestment Act Preferred Shares at...institutions can obtain CRA credit for investing in the...longer be entitled to CRA credit, the company said...
- Charter Municipal Mortgage Acceptance Company Completes Convertible Community...
- Press release article from: PR Newswire December 21, 2000 700+ words
...Convertible Community Reinvestment Act Preferred Shares...under the Community Reinvestment Act ("CRA") Investment...the allocation of CRA credit, the preferred investors...entitled to retain their CRA credit allocation. Merrill...
Source: HighBeam Research, Katrina Creates CRA Opportunities.(Community Reinvestment Act)