§ 26-431.06. Rating system for community development performance.

Current through October 23, 2012

(a) The Commissioner shall establish, by regulation, a system to rate the community development performance of a financial institution. The system shall include the following rating categories:

(1) Outstanding record of performance in meeting the credit needs of its local communities;

(2) Highly satisfactory record of performance in meeting the credit needs of its local communities;

(3) Satisfactory record of performance in meeting the credit needs of its local communities;

(4) Needs to improve record of performance in meeting the credit needs of its local communities; and

(5) Substantial noncompliance in meeting the credit needs of its local communities.

(b) The Commissioner shall consider the compliance of the financial institution with the community development plan submitted under § 26-431.03 in assessing and rating the community development performance of the financial institution.

                
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(June 9, 2001, D.C. Law 13-308, § 406, 48 DCR 3244.)

HISTORICAL AND STATUTORY NOTES

Legislative History of Laws

For Law 13-308, see notes following § 26-431.01.