Lone Star Summit “Meet the Funder” August 4, 2015 Community Reinvestment Act (CRA)

CRA Basics  Community Reinvestment Act applies to banks only.  Banks are evaluated by their regulatory agency based on lending, investments and services.  Level of review and frequency is based on asset size:  Small banks  Intermediate Small banks - $305 Million to Billion  Large banks - $1.221 Billion or greater

Bank Regulatory Agencies  Federal Deposit Insurance Corporation (FDIC)  Federal Reserve Banks (12) and Board of Governors  Office of the Comptroller of the Currency (OCC)

Bank Regulatory Agencies Links to CRA Evaluations  Federal Deposit Insurance Corporation (FDIC)  Federal Reserve Banks (12) and Board of Governors BankRating.aspx BankRating.aspx  Office of the Comptroller of the Currency (OCC) bsa/cra/index-cra.html

Some Examples of ComDev Loans  Develop new or rehab existing affordable housing - multifamily or single family  Loans to develop/rehab community health centers  Loans for public facilities, utilities, etc.

Some Examples of ComDev Investments  Grants to nonprofit with primary purpose of ComDev, such as providing affordable housing or community services to low- or moderate-income individuals  Investments in Low Income Housing Tax Credits  Investment in loan pools; deposits in Minority Owned Financial Institutions/Community Development Financial Institutions.

Some Examples of ComDev Services  Bank employee assists with FHLB program application;  Bank employee services on the Board of Directors, loan committee, fundraising committee, other technical assistance  Bridge loan to cover gap between loan closing and funding of subsidy  Provide or support credit/financial/homebuyer counseling

Julie Gunter Community Development Director Federal Reserve Bank of Dallas (214)