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Community Reinvestment Act

  

 

 

Background & Purpose

  • The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulations 12 CFR parts 25, 228, 345, and 195. (See Regulation).
  • The CRA requires that each insured depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities, including mergers and acquisitions (See CRA Ratings). CRA examinations (see Exam Schedules) are conducted by the federal agencies that are responsible for supervising depository institutions: the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
  • Additional information in the form of Interagency Questions and Answers, Interagency Interpretive Letters, CRA data reporting is available.

This page was originally published by the FFIEC, linked here. 

Community Savings Bank’s most recent CRA Public File (including the most recent CRA Public Disclosure) is available here. The CRA Public Disclosure is linked here. For a written copy of the Bank CRA Public file, requests can be made to: Community Savings Bank, Attn: CRA Officer, 4801 West Belmont Avenue, Chicago, IL 60641 or by calling 773-685-5300.

 

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