Community Reinvestment Act

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“I am committed to ensuring that families, businesses and government bodies across our state, especially those in low- and moderate-income communities, have access to credit and banking services that will help them prosper and grow our state.”

–Treasurer Michael W. Frerichs


CRA Overview

The Community Reinvestment Act (CRA) was enacted by the U.S. Congress in 1977 to ensure that banks and lending institutions treat all communities with dignity and fairness.  It is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound banking practices. 


CRA examinations are conducted by the federal agencies that are responsible for supervising depository institutions:  the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).


CRA Rating Standard

Pursuant to the Deposit of State Moneys Act (15 ILCS 520/16.3), “the State Treasurer is authorized to consider a financial institution’s record and current level of financial commitment to its local community when deciding whether to deposit State funds in that financial institution.”  Accordingly, the Treasurer’s Office reviews ratings under CRA to assess an institution’s commitment to its community.  CRA ratings of “satisfactory” or “outstanding” are deemed sufficient to allow the deposit of state funds. 


The review of CRA ratings by the Treasurer’s Office is intended to further ensure that depositories partnering with the Treasurer’s Office are incentivized to play an active role in the economic well-being of their local communities.  The Treasurer’s Office believes that institutional compliance with the spirit and letter of CRA is essential in advancing an open and effective banking system that grows local communities and bolsters the state economy. 


This approach is further reflected in the State Treasurer’s Investment Policy, which was updated in 2015 to promote community reinvestment, as well as in Treasurer Frerich’s pledge to support CRA compliance.


Participating institutions that wish to become an “approved program depository” are required to sign a Community Reinvestment Pledge before receiving or renewing state deposits.  Financial institutions that do not sign the form will not be eligible for state deposits.  To review the process for becoming an approved state depository, and to access relevant forms, visit the Treasurer's Becoming an Approved Program Depository webpage.


Take Action


To ask the Treasurer’s Office to review its relationship with a financial institution -- The Treasurer’s Office maintains a process by which members of the public can request that the Treasurer’s Office reviews the status of its relationship with a specific Approved State Depository.  Accordingly, if you have an issue to report and would like the Treasurer’s Office to assess its relationship with a financial institution, please fill out and submit a Complaint Form.


To report fraud, abuse, or file a consumer complaint -- Contact the U.S. Consumer Financial Protection Bureau at (855) 411-2372 or make a submission electronically at


To comment on a financial institution's commitment to the Community Reinvestment Act -- Three federal agencies are primarily responsible for administering the Community Reinvestment Act and assigning ratings, the Office of the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation.  Accordingly, should you wish to comment on a financial institution's commitment to the CRA, please contact the aforementioned agencies using the following links:


        •  Office of the Comptroller of the Currency

        •  Federal Reserve System

        •  Federal Deposit Insurance Corporation


To submit a complaint to the state agency that regulates financial institutions in Illinois -- The Illinois Department of Financial and Professional Regulation (IDFPR) is responsible for regulating banking (and non-banking) financial institutions.  Accordingly, if you wish to file a formal complaint or report an issue, please visit IDFPR’s Complaint Page


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