|FOR RELEASE at 4:00 P.M. EST||For further information|
|Friday, March 1, 2002||Contact: Ella P. Allen|
WASHINGTON -- The Office of Thrift Supervision (OTS) today announced that 93 savings associations are scheduled for Community Reinvestment Act (CRA) examinations during the second quarter of 2002.
The schedule released today 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 aggregate assets of not more than $250 million and CRA examination ratings of "Satisfactory" or "Outstanding" respectively. The schedule is attached.
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: Friday, 3/1/2002