|FOR RELEASE at 4:00 P.M. EDT||For further information|
|Friday, March 23, 2001||Contact: Ella P. Allen|
WASHINGTON - In accordance with the joint rule titled "Disclosure and Reporting of CRA-Related Agreements," the OTS has announced that all parties filing CRA-Related agreements or annual reports with OTS should send them to CRA Sunshine, c/o Dissemination Branch, Office of Thrift Supervision, 1700 G St., N.W., Washington, D.C. 20552.
The joint rule published in the Federal Register on January 10, 2001 (66 Fed. Reg. 2052), by the federal bank regulatory agencies implemented the CRA Sunshine Requirements of the Federal Deposit Insurance Act (FDIA), enacted by the Gramm-Leach-Bliley Act.
The FDIA established annual reporting and public disclosure requirements for certain written agreements that are entered into between insured depository institutions or their affiliates and nongovernmental entities or persons (NGEPs) and that are made pursuant to, or in connection with, the fulfillment of the Community Reinvestment Act of 1977 (CRA). The effective date of the regulation is April 1, 2001.
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, 3/23/2001