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#1540628 - 04/26/11 01:30 PM Board approval
cricket Offline
100 Club
Joined: Mar 2010
Posts: 134
does anyone know about the requirement for the board of directors to approve areas of service for CRA?

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CRA
#1540751 - 04/26/11 02:45 PM Re: Board approval cricket
bOaty Offline
Power Poster
bOaty
Joined: Aug 2006
Posts: 4,266
Chillin an grillin
Are you speaking of your assessment area?

If so, no board approval is needed.
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HMDAHMDAHMDAHMDAHMDAHMDA

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#1540768 - 04/26/11 02:57 PM Re: Board approval bOaty
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
If your bank has set it up that the Board must approve the assessment area then it must approve it. It is not a regulatory requirement.

Most banks notify the board of changes and why the change was made in a periodic report.
_________________________
Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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