New Form for National Bank Community Development Investments

by Mary Beth Guard

The OCC has provided a new form CD-1 as a convenient method for national banks to self-certify or to request prior approval of a community development investment. Using the detailed four-page form, the bank submits information about the investment, certifies that the information is accurate and complete, and certifies that the investment complies with the requirements of 12 CFR 24.3 and 24.4 and does not expose the bank to unlimited liability.

Originally appeared in the Oklahoma Bankers Association Compliance Informer.

First published on BankersOnline.com 1/14/02