Federal Deposit Insurance Corporation
550 17th Street NW, Washington, DC 20429-9990
Financial Institution Letter
FIL-63-2007
July 11, 2007
Community Reinvestment Act
Proposed Interagency Questions and Answers
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 proposed revisions to the Interagency Questions and Answers Regarding
Community Reinvestment (Interagency Q&As). The Interagency Q&As provide informal staff guidance on community
reinvestment. The agencies are seeking public comment on the proposed revisions. Comments are due by September
10, 2007.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
CRA Officers, Compliance Officers, and
Chief Executive Officers
Related Topics:
12 CFR Part 345
Interagency Statement on Working With Mortgage
Borrowers
Attachment:
Proposed Interagency Questions and Answers
Regarding Community Reinvestment
Contact:
Faye Murphy, Fair Lending Specialist, Compliance
Policy and Examination Support, fmurphy@fdic.gov
or (202) 898-6613; or
Mira Marshall, Acting Chief, CRA and Fair Lending
Section, mmarshall@fdic.gov or (202) 898-3912
Note:
FDIC financial institution letters (FILs) may be accessed
from the FDIC's Web site
at www.fdic.gov/news/news/financial/2007/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:
As a result of the changes to the Community Reinvestment
Act (CRA) regulations in 2005, subsequent changes to the
Interagency Q&As to reflect those regulatory changes, and
the need to revise certain Interagency Q&As issued in 2001,
the federal banking and thrift regulatory agencies have
developed the attached new and revised Interagency Q&As
and are seeking public comment on them.
Some of the revisions are intended to encourage
institutions to work with homeowners who are unable
to make mortgage payments, noting that institutions
can receive CRA consideration for foreclosure
prevention programs for low- and moderate-income
homeowners, consistent with the
interagency Statement on Working with Mortgage
Borrowers issued on April 17, 2007.
The revisions clarify that institutions of all sizes
should receive favorable consideration for providing
credit in a manner that is responsive to the needs of
their communities. Such activities include, for
example, offering affordable small loan programs.
There are nine new Interagency Q&As as well as
substantive and technical revisions to existing ones.Inactive
550 17th Street NW, Washington, DC 20429-9990
Financial Institution Letter
FIL-63-2007
July 11, 2007
Community Reinvestment Act
Proposed Interagency Questions and Answers
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 proposed revisions to the Interagency Questions and Answers Regarding
Community Reinvestment (Interagency Q&As). The Interagency Q&As provide informal staff guidance on community
reinvestment. The agencies are seeking public comment on the proposed revisions. Comments are due by September
10, 2007.
Distribution:
FDIC-Supervised Banks (Commercial and Savings)
Suggested Routing:
CRA Officers, Compliance Officers, and
Chief Executive Officers
Related Topics:
12 CFR Part 345
Interagency Statement on Working With Mortgage
Borrowers
Attachment:
Proposed Interagency Questions and Answers
Regarding Community Reinvestment
Contact:
Faye Murphy, Fair Lending Specialist, Compliance
Policy and Examination Support, fmurphy@fdic.gov
or (202) 898-6613; or
Mira Marshall, Acting Chief, CRA and Fair Lending
Section, mmarshall@fdic.gov or (202) 898-3912
Note:
FDIC financial institution letters (FILs) may be accessed
from the FDIC's Web site
at www.fdic.gov/news/news/financial/2007/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:
As a result of the changes to the Community Reinvestment
Act (CRA) regulations in 2005, subsequent changes to the
Interagency Q&As to reflect those regulatory changes, and
the need to revise certain Interagency Q&As issued in 2001,
the federal banking and thrift regulatory agencies have
developed the attached new and revised Interagency Q&As
and are seeking public comment on them.
Some of the revisions are intended to encourage
institutions to work with homeowners who are unable
to make mortgage payments, noting that institutions
can receive CRA consideration for foreclosure
prevention programs for low- and moderate-income
homeowners, consistent with the
interagency Statement on Working with Mortgage
Borrowers issued on April 17, 2007.
The revisions clarify that institutions of all sizes
should receive favorable consideration for providing
credit in a manner that is responsive to the needs of
their communities. Such activities include, for
example, offering affordable small loan programs.
There are nine new Interagency Q&As as well as
substantive and technical revisions to existing ones.Inactive