ACORN discussion - can we move this into one thread?

[ocelot_ark]

Originally Posted by Mavdog

there is a positive result with regulatory agencies for opening branches, acquisitions/mergers. not to mention the positive responses from the locals who are now getting bank services.

Speaking strictly of nationally chartered banks...I don't know for sure about state charters or thrifts, but i assume it's very similar.

Conditional approvals can still be given to a bank with a less than satisfactoy CRA rating. And CRA is only one consideration of the application process. The overall condition of the bank is much more important. There are only 6 national banks that are currently rated substandard noncompliance and there are 207 rated needs to improve. There are about 7500 national banks.

And those people "who are now getting bank services" have been getting bank services all along. Banks don't have to designate areas as part of the assessment area if they don't already SERVE that area with a branch/ATM/etc.