as Wholesale or Limited Purpose
Institutions; Submissions of Strategic Plans
revised Community Reinvestment Act (CRA) regulations include provisions
allowing an institution with unique or narrow business strategies
to be designated as a wholesale or limited purpose institution subject
to specially tailored CRA performance criteria. Any institution
also can elect to be evaluated on the basis of a CRA "strategic
plan" developed by the institution with input from the community.
To exercise these options, however, an institution must obtain approval
from its appropriate federal regulator. Attached are procedures,
developed on an interagency basis, that institutions must follow
in submitting these requests.
from FDIC-supervised institutions should be submitted in writing
to their Division of Compliance and Consumer Affairs (DCA) regional
office. DCA regional office staff also are available to answer any
questions about these options or the approval process. A list of
regional offices is attached.