Regulatory AlertsCA 12-1: Second Extension of CRA Consideration Period for Community Development Activities in Hurricanes Rita and Katrina Disaster Areas for an Additional 36 Months
The Board of Governors of the Federal Reserve System issued this letter to grant a second 36-month extension of Community Reinvestment Act favorable consideration for community development activities in areas affected by Hurricanes Katrina and Rita. Examiners are directed to continue providing this consideration for loans, investments, and services that revitalize or stabilize these designated disaster areas due to demonstrable community need. State member banks located outside the disaster zones may also receive favorable consideration for such activities provided they have adequately met the CRA-related needs of their local communities.
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