Office of Thrift Supervision

OTS Announces 109 CRA Exams Scheduled For First Quarter 2003

WASHINGTON – The Office of Thrift Supervision (OTS) announced today that 109 savings associations are scheduled for Community Reinvestment Act (CRA) examinations during the first quarter of 2003.

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 aggregate assets of not more than $250 million and previous CRA examination ratings of “Satisfactory” or “Outstanding” respectively. The dates listed are subject to change. The schedule is also posted on the Internet at http://www.ots.treas.gov. Results of CRA exams are posted monthly on OTS’s web site.

The results of the exams announced today will be posted as they become available.

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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: Wednesday, 11/27/2002