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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
Ally Bank (#3284070)* Midvale, UT January 1, 2014 Chicago
Stifel Bank & Trust (#3076248) St. Louis, MO August 28, 2015 St. Louis
Green Dot (#243375) Provo, UT July 23, 2015 San Francisco
Seacoast Commerce Bank (#3194638) San Diego, CA March 1, 2014 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


* The effective date was changed to reflect the date the FDIC approved the current strategic plan. However, the Federal Reserve accepted this plan when Ally Bank became a state member bank on March 21, 2016. Return to text.
Last update: May 27, 2016