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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Community Reinvestment Act (CRA)

Federal Reserve Board of Governors

Strategic Plans


The CRA regulation contains an option for banks called the "strategic plan." This option allows an institution to develop a plan with the community input detailing how the institution proposes to meet its CRA obligation. The plan is tailored to the needs of the community using direct community input at the development stage. The institution informally seeks suggestions from the public while developing the plan and once developed it must publish notice of the plan and solicit written public comment for at least 30 days. After the comment period, the institution submits the plan to its regulator for review and approval.

The following banks have had their strategic plan approved:

Bank name (RSSD ID Number) Bank location Effective date Reserve Bank
Green Dot (#243375) Provo, UT March 26, 2013 San Francisco
Silicon Valley Bank (#802866) Santa Clara, CA February 3, 2014 San Francisco
Silvergate Bank (#1216826) San Diego, CA May 23, 2014 San Francisco

 

 

 

 

 

 

Last update: June 2, 2014