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FDIC rates Belmont Savings Bank 'Outstanding' in CRA Compliance

Posted 02/04/25

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“The CRA is a 1977 law that requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations,” the release said.

In the public disclosure of Belmont Savings Bank’s CRA performance evaluation, the FDIC said the bank’s performance under the Lending Test was satisfactory and its performance under the Community Development test was outstanding.

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