Federal Deposit Insurance Corporation
550 17th Street NW, Washington, DC 20429-9990
Financial Institution Letter
FIL-6-2009
January 28, 2009
Community Reinvestment Act
Issuance of Final Interagency Questions and Answers on CRA; Request for
Comment on Two Proposed Revised and One New Question and Answer
Summary:
The FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift
Supervision have published the attached final Interagency Questions and Answers Regarding Community
Reinvestment (Questions and Answers). The agencies also have published for comment one new and two revised
questions and answers. The final Questions and Answers took effect when published in the Federal Register on
January 6, 2009. Comments on the proposed questions and answers are due by March 9, 2009.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officers
CRA Officers
Compliance Officers
Related Topics:
Community Reinvestment Act
Attachment:
PR-3-2009, Joint Release/Issuance of Final Interagency
Questions and Answers on Community Reinvestment
Community Reinvestment Act: Interagency Questions
and Answers Regarding Community Reinvestment -
Notice and Request for Comment - PDF (PDF Help)
Contact:
Deirdre Foley, Senior Policy Analyst, Compliance Policy
Section, dfoley@fdic.gov or (202) 898-6612; or Susan
van den Toorn, Counsel, svandentoorn@fdic.gov or
(202) 898-
8707.
Note:
FDIC financial institution letters (FILs) may be accessed
from the FDIC's Web site
at www.fdic.gov/news/news/financial/2009/index.html.
To receive FILs electronically, please
visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters may be
obtained through the FDIC's Public Information Center,
3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-
275-3342 or 703-562-2200).
Highlights:
• The federal banking and thrift agencies have adopted
the attached final Interagency Questions and Answers
Regarding Community Reinvestment, which interpret
the agencies' CRA regulations. The final Questions and
Answers include nine new questions and answers and
substantive changes to 14 existing questions and
answers proposed in 2007.
• The new and revised Questions and
Answers encourage financial institutions to participate in
foreclosure prevention programs with the objective of
providing affordable, sustainable, long-term loan
restructurings or modifications for homeowners facing
foreclosure on their primary residences.
• The Questions and Answers also address activities
undertaken by a majority-owned financial institution in
cooperation with a minority- or women-owned financial
institution or a low-income credit union.
• The Questions and Answers consolidate and supersede
all previously published CRA Interagency Questions and
Answers.
• The agencies also have proposed for comment one new
and two revised questions and answers.Inactive
550 17th Street NW, Washington, DC 20429-9990
Financial Institution Letter
FIL-6-2009
January 28, 2009
Community Reinvestment Act
Issuance of Final Interagency Questions and Answers on CRA; Request for
Comment on Two Proposed Revised and One New Question and Answer
Summary:
The FDIC, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Office of Thrift
Supervision have published the attached final Interagency Questions and Answers Regarding Community
Reinvestment (Questions and Answers). The agencies also have published for comment one new and two revised
questions and answers. The final Questions and Answers took effect when published in the Federal Register on
January 6, 2009. Comments on the proposed questions and answers are due by March 9, 2009.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
Chief Executive Officers
CRA Officers
Compliance Officers
Related Topics:
Community Reinvestment Act
Attachment:
PR-3-2009, Joint Release/Issuance of Final Interagency
Questions and Answers on Community Reinvestment
Community Reinvestment Act: Interagency Questions
and Answers Regarding Community Reinvestment -
Notice and Request for Comment - PDF (PDF Help)
Contact:
Deirdre Foley, Senior Policy Analyst, Compliance Policy
Section, dfoley@fdic.gov or (202) 898-6612; or Susan
van den Toorn, Counsel, svandentoorn@fdic.gov or
(202) 898-
8707.
Note:
FDIC financial institution letters (FILs) may be accessed
from the FDIC's Web site
at www.fdic.gov/news/news/financial/2009/index.html.
To receive FILs electronically, please
visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters may be
obtained through the FDIC's Public Information Center,
3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-
275-3342 or 703-562-2200).
Highlights:
• The federal banking and thrift agencies have adopted
the attached final Interagency Questions and Answers
Regarding Community Reinvestment, which interpret
the agencies' CRA regulations. The final Questions and
Answers include nine new questions and answers and
substantive changes to 14 existing questions and
answers proposed in 2007.
• The new and revised Questions and
Answers encourage financial institutions to participate in
foreclosure prevention programs with the objective of
providing affordable, sustainable, long-term loan
restructurings or modifications for homeowners facing
foreclosure on their primary residences.
• The Questions and Answers also address activities
undertaken by a majority-owned financial institution in
cooperation with a minority- or women-owned financial
institution or a low-income credit union.
• The Questions and Answers consolidate and supersede
all previously published CRA Interagency Questions and
Answers.
• The agencies also have proposed for comment one new
and two revised questions and answers.Inactive