Illinois Compiled Statutes 20 ILCS 3205/6.2 – Community reinvestment
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The Division shall review the federal Community Reinvestment Act performance evaluations conducted by the primary federal regulator of any financial institution regulated by the Division to monitor the efforts State chartered banks are making to meet the credit needs of the communities in which they serve, including low-income and moderate-income neighborhoods, consistent with safe and sound banking practices.
The Department may electronically publish an annual report to provide the federal Community Reinvestment Act performance evaluations of State chartered banks.
The Department may electronically publish an annual report to provide the federal Community Reinvestment Act performance evaluations of State chartered banks.
Terms Used In Illinois Compiled Statutes 20 ILCS 3205/6.2
- Community Reinvestment Act: The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977. Source: OCC
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14