Question & Answer

Question: We're still confused about what source to use for income data for CRA purposes. Do you have any advice?

Answer: Yes - with the help of the OCC. Your concern is a widespread problem and the OCC has just issued some clarification. OCC 97-25 was sent to national banks in June. This letter explains that the federal supervisory agencies use the annual HUD estimated median family income data to >
Copyright © 1997 Compliance Action. Originally appeared in Compliance Action, Vol. 2, No. 14, 12/97