• Safi Bello

Agencies to give favorable Community Reinvestment Act consideration to revitalization activities in

Federal Reserve Board press release ---------- The federal bank regulatory agencies today announced they will give favorable consideration under Community Reinvestment Act (CRA) regulations to institutions that are located outside of the U.S. Virgin Islands and Puerto Rico, which were designated as major disaster areas in the aftermath of Hurricane Maria, for bank activities that help to revitalize or stabilize these areas.The CRA encourages financial institutions to help meet local credit and community development needs. The agencies give CRA consideration for bank activities such as loans, investments, or services with a primary purpose of community development. To learn more click on the picture below to read the release.

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