Prepared for Northeastern Bank of Pennsylvania
Author: Revere, Elspeth
Summary
At the request of the Northeastern Bank of Pennsylvania, the Woodstock Institute has agreed to assist the Bank in reviewing its compliance with the Community Reinvestment Act (CRA). The Community Reinvestment Act was passed by Congress in 1977 with the purpose of ensuring that every financial institution takes the responsibility to help meet the credit needs of its community. As part of this process, each bank and savings and loan association must prepare an annual CRA statement which delineates its local community and identifies the ways in which the bank is helping to meet the credit needs of that community; it must post in its lobby a CRA Notice informing the public of its rights under CRA; and it must maintain a public file of all signed letters pertaining to the institution’s CRA statement or lending performance.
Download
Assessment of the Northeastern Bank of Pennsylvania’s Community Reinvestment Act Materials
