|
#1
|
|||
|
|||
|
Dear Friends:
The information about CRA and foreign-owned banks was incorrect in the previous NCRC alert about HR 10. In the Senate Banking version of HR 10, CRA is still applied to foreign-owned banks. It is not applied to a wholesale financial institution if the wholesale institution is owned by a foreign owned bank. We apologize for the misunderstanding. The previous info. about a foreign owned bank was based on a summary of the manager's amendment to HR 10. The other points in the alert remain accurate. If you have any questions, please call NCRC at 202-628-8866. NCRC is the nation's CRA trade association of more than 680 community reinvestment organizations. Josh Silver Vice President of Research This post transferred from the cdb-l mailing list |