§__.26(c)(3) – 1
Q: What will examiners consider when evaluating the provision of community development services by an intermediate small institution?
A1. In addition to the examples listed in Q&A § .12(i) – 3, examiners will consider retail banking services as community development services if they provide benefit to low- or moderate-income individuals. Examples include:
- low-cost deposit accounts;
- electronic benefit transfer accounts and point of sale terminal systems;
- individual development accounts;
- free or low-cost government, payroll, or other check cashing services; and
- reasonably priced international remittance
In addition, providing services to low- and moderate-income individuals through branches and other facilities located in low- and moderate-income, designated disaster, or distressed or underserved nonmetropolitan middle-income areas is considered.
Generally, the presence of branches located in low- and moderate-income geographies will help to demonstrate the availability of banking services to low- and moderate-income individuals.
Source: Interagency Questions & Answers Regarding Community Reinvestment | July 2016