§__.29(b) – 2
Q: Is the institution required to enter into agreements with private parties?
A2. No. Although communications between an institution and members of its community may provide a valuable method for the institution to assess how best to address the credit needs of the community, the CRA does not require an institution to enter into agreements with private parties. The Agencies do not monitor compliance with nor enforce these agreements.
Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016