April 1 is deadline to update CRA public files
Section 228.43(e) of Reg BB, which implements the Community Reinvestment Act, requires financial institutions to update public files each year by April 1st. This includes files kept at both the main office and each branch office (if applicable). Some items frequently overlooked when updating public files include:
- Current services offered by the institution;
- Up-to-date transaction fees charged by the institution;
- Up-to-date loan to deposit ratios for each quarter of the prior calendar year (for small and intermediate small institutions only); and
- Any branches opened or closed in the current year and prior two calendar years.
Branch files must also include a copy of the public section of the bank’s most recent CRA performance evaluation and a list of services provided by the bank.
Ensure your organization is prepared for severe weather
Is your bank prepared for severe weather and the challenges it brings? As we enter the tornado and storm season in Iowa, this is a good time to review severe weather plans with your employees and customers.
Do you know where your tornado shelter is located? Do you have a method to find out when the all clear is sounded? Does each of your offices test those plans at least annually? Do you have a way to account for all employees following a natural disaster?
The National Weather Service will conduct a full test of its systems on April 9 during Severe Weather Awareness Week. This provides a unique opportunity to revisit your bank’s disaster recovery plans.
If your program hasn’t been tested during the past 12 months, schedule a test or table-top discussion and review of your program. Review vendor contracts to ensure emergency preparedness tools and equipment are ready and available in the event of need.
Consider adopting some of the lessons learned by banks that survived Katrina by reading “Lessons Learned from Hurricane Katrina: Preparing Your Institution for a Catastrophic Event.” This FDIC publication is available at www.fdic.gov/regulations/resources/lessons/lessons.pdf.
For more information about Severe Weather Awareness Week in Iowa, visit www.bereadyiowa.org.
Support your community through Trees for Kids program
Show support for your community and schools by participating in the 2008 Trees For Kids/Trees For Teens program. Coordinate a tree-planting project involving kids, schools, bankers and nurseries, and gain positive recognition for your involvement.
The programs are designed to educate Iowa students of all ages about the importance and value of trees. Here is how to get involved:
- Watch your mail for a Trees For Kids information packet that the Iowa Department of Natural Resources is sending to local schools and IBA member bank marketing officers.
- Partner with a school in your community. You will be asked to provide reasonable funding for the purchase of a landscape tree from an Iowa Nursery & Landscape Association nursery.
- A tree-planting activity will be coordinated during Earth Week/Arbor Day (April 21-28).
- Submit a press release and photo of your tree-planting activity to your local media. For a sample press release, contact the IBA’s Cheryl Miller at cmiller@iowabankers.com or at 800.532.1423, ext. 2950.
For more information, watch your mail for an information packet or visit the DNR Web site at www.iowadnr.gov/forestry/treesforkids.html.
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