The Federal Deposit Insurance Corporation today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings that the FDIC assigned to institutions in February 2012.
Two Washington state banks were on the list. Both Seattle Bank and Sterling Savings Bank received “satisfactory” ratings.
The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations.
To see the full May 2012 list of banks examined for CRA compliance click here.