| FOR RELEASE at 11:00 A.M. EDT | For further information | ||||
| Tuesday, June 8, 2004 | Contact: Chris Smith | ||||
| OTS 04-18 | 202/906-6677 | ||||
WASHINGTON - The Office of Thrift Supervision (OTS) announced today that 113 savings associations are scheduled for Community Reinvestment Act (CRA) examinations during the second quarter of 2004.
The schedule reflects OTS's implementation of Section 712 of the Gramm-Leach-Bliley Act, which extends the CRA examination cycle from approximately every two years to four or five years for institutions with previous CRA examination ratings of "Satisfactory" or "Outstanding," respectively, and aggregate assets of not more than $250 million. The dates listed are subject to change. The schedule is also posted on the Internet at ots.treas.gov . Results of CRA exams are posted monthly on OTS's web site. Results for the examinationss announced today will be posted as they become available.
The Office of Thrift Supervision (OTS), a bureau of the U.S. Treasury, regulates and supervises the nation's thrift industry. OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services. For copies of news releases or other documents visit the OTS web page at www.ots.treas.gov.
Created: Tuesday, 6/8/2004