(a) Every foreign bank shall annually prepare a Community Reinvestment Act (CRA) statement for each island of the territory and shall include the CRA statements in its annual report filed under section 64 of this title. Each CRA statement shall contain:
(1) the name of the island;
(2) a list of specific types of credit (within certain categories, such as residential loans for one to four dwelling units, residential loans for five dwelling units and over, housing rehabilitation loans, home improvement loans, small business loans, farm loans, community development loans, commercial loans, and consumer loans) that the bank is prepared to extend within the local community; and
(3) a copy of the Community Reinvestment notice provided for in subsection (c) of this section.
(b) Each foreign bank shall maintain a CRA Public File that is readily available for inspection at the main office and each branch of the bank. The CRA Public File shall consist of:
(1) any signed, written comments received from the public within the past 2 years that specifically relate to any CRA statement or to the bank's performance in helping to meet the credit needs of its community or communities;
(2) any responses to the comments that the bank wishes to make; and
(3) any CRA statements in effect during the past 2 years.
(c) Within 90 days after the effective date of this act all foreign banks shall provide, in the lobby of each of its offices and branches, a public notice substantially in the following form:
The Virgin Islands Community Reinvestment Act requires the Banking Board to evaluate our performance in helping to meet the credit needs of our community, and permits the Banking Board to take this evaluation into account when the Board considers certain applications submitted by this Bank. Your involvement is encouraged.
You should know that:
You may obtain our current CRA statement for this island in this office. (Current CRA statements for other islands served by us are available at our head office, located at ____.)
You may send signed, written comments about our CRA statement[s] or our performance in helping to meet community credit needs to (title and address of bank official) and to the Banking Board. Your letter, together with any response by us, may be made public.
You may look at a file of all signed, written comments received by us within the past 2 years, any responses we have made to the comments, and all CRA statements in effect during the past 2 years at our office located at (address).