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<blockquote data-quote="av8torntn" data-source="post: 910320" data-attributes="member: 8259"><p>Since you do not think the CRA is enforceable. This is the summary for the enforcement section.</p><p></p><p>The CRA requires that each insured depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities, including mergers and acquisitions. (<a href="http://www.ffiec.gov/cra/ratings.htm" target="_blank">See CRA Ratings</a>) CRA examinations (see Exam Schedules) are conducted by the federal agencies that are responsible for supervising depository institutions: the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). </p><p></p><p></p><p></p><p>We will do this one step at a time since you want me to copy and paste from the act. Do you believe that Congress has given regulators the authority to interpret and implement this act or do you believe all interpretations and implementations are contained in the act itself?</p></blockquote><p></p>
[QUOTE="av8torntn, post: 910320, member: 8259"] Since you do not think the CRA is enforceable. This is the summary for the enforcement section. The CRA requires that each insured depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities, including mergers and acquisitions. ([URL="http://www.ffiec.gov/cra/ratings.htm"]See CRA Ratings[/URL]) CRA examinations (see Exam Schedules) are conducted by the federal agencies that are responsible for supervising depository institutions: the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). We will do this one step at a time since you want me to copy and paste from the act. Do you believe that Congress has given regulators the authority to interpret and implement this act or do you believe all interpretations and implementations are contained in the act itself? [/QUOTE]
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