§__.12(i) Employee or Director Charitable Activities

§__.12(i) – 2

Q: Are personal charitable activities provided by an institution’s employees or directors outside the ordinary course of their employment considered community development services?

A2. No. Services must be provided as a representative of the institution. For example, if a financial institution’s director, on her own time and not as a representative of the institution, volunteers one evening a week at a local community development corporation’s financial counseling program, the institution may not consider this activity a community development service.

 

Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016

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