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#1
09-11-1998, 06:20 PM
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Addendum to NCRC alert on HR 10
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 
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