|FOR RELEASE at 2:00 P.M. EST||For further information|
|Tuesday, March 1, 2000||Contact: Ella P. Allen|
WASHINGTON, D.C., Feb. 29, 2000-- The Office of Thrift Supervision (OTS) today announced the release of a list of savings associations scheduled for Community Reinvestment Act (CRA) examinations during the second quarter of 2000.
CRA regulations adopted in April 1995 require all federal financial regulatory agencies to publish quarterly CRA examination schedules. This list also reflects OTS implementation of Section 712 of the Gramm-Leach-Bliley Act, which extends the CRA examination cycle for institutions with aggregate assets of not more than $250,000,000 and CRA examination ratings of "Outstanding" and "Satisfactory". This reduces the number of institutions subject to CRA examination in the upcoming quarter.
The lists are divided by OTS region and by state within each of the five regions. Included is the month that each institution's examination is expected to begin. While the institutions listed are scheduled for examination, unforeseen circumstances can sometimes cause examination dates to change. For example, issues might arise that require OTS to spend more time and resources on a specific examination than originally allotted, thus delaying its completion and forcing a rescheduling of other examinations.
If an institution is rescheduled for a subsequent quarter, that information will be included in a later list. In some cases, an institution may be examined by an OTS region other than the one that includes the state in which the institution is located because of the institution's corporate structure.
The Office of Thrift Supervision (OTS), an office 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.
Expected CRA Examination Schedule 2nd Quarter 2000.
Created: Wednesday, 3/1/2000