ABC National Bank, an independent bank with $120 million in total assets located in a large urban area, is in the process of determining its option for its CRA evaluation. Which of the following options is NOT open to ABC Bank?
ABC National Bank, an independent bank with $120 million in total assets located in a large urban area, is in the process of determining its option for its CRA evaluation. Which of the following options is NOT open to ABC Bank?
The community development test is not an option open to ABC Bank for its CRA evaluation. The community development test is specifically designed for wholesale or limited-purpose banks, which are institutions that do not offer a full range of retail banking services. Given that ABC National Bank is described as an independent bank with $120 million in total assets and does not fall into the wholesale or limited-purpose category, the community development test is not applicable to it.
Wrong answer....Should be D