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Home » Store » Taxable » Hurricane Relief Efforts Qualify for CRA Credits, OTS, NYSBD Clarify

Hurricane Relief Efforts Qualify for CRA Credits, OTS, NYSBD Clarify

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Activities by federally chartered thrifts and New York-chartered mortgage lenders to provide relief in hurricane-stricken areas will receive credit in performance evaluations under the Community Reinvestment Act, according to the institutions’ primary federal and state regulators. In a Dec. 20 letter to thrifts, the Office of Thrift Supervision said it will give favorable consideration to thrifts’ lending, investment, or service activities to revitalize or stabilize areas devastated by Hurricanes Katrina and Rita. …
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