FDIC September Audit Clears Almost All Banks

Virtually every examined for Community Reinvestment Act compliance during September passed, and none received the dreaded "Substantial Non-compliance" rating according to the FDIC.

Two banks received "Needs Improvement" ratings.

They are First Mutual Bank of Bellevue, WA and Pilgrim Bank of Pittsburg, TX.

The Act prohibits redlining, requiring that banks serve the entire community in which they are located.

posted by Consumer Help Web Editorial Team at 1:51 PM |