Does the definition of “affiliate” include subsidiaries of an institution?
A1. Yes, “affiliate” includes any company that controls, is controlled by, or is under common control with another company. An institution’s subsidiary is controlled by the institution and is, therefore, an affiliate. § 345.12(f) Branch § 345.12(f)–1: Do the definitions of “branch,” “automated teller machine (ATM),” and “remote service facility (RSF)” include mobile branches, ATMs, and RSFs? A1. Yes. Staffed mobile offices that are authorized as branches are considered “branches,” and mobile ATMs and RSFs are considered “ATMs” and “RSFs.” § 345.12(f)–2: Are loan production offices (LPOs) branches for purposes of the CRA? A2. LPOs and other offices are not “branches” unless they are authorized as branches of the institution through the regulatory approval process of the institution’s supervisory agency. § 345.12(g) Community development § 345.12(g)–1: Are community development activities limited to those that promote economic development? A1. No. Although the definition of “community
A1. Yes, “affiliate” includes any company that controls, is controlled by, or is under common control with another company. An institution’s subsidiary is controlled by the institution and is, therefore, an affiliate. § 345.12(f) Branch § 345.12(f)–1: Do the definitions of “branch,” “automated teller machine (ATM),” and “remote service facility (RSF)” include mobile branches, ATMs, and RSFs? A1. Yes. Staffed mobile offices that are authorized as branches are considered “branches,” and mobile ATMs and RSFs are considered “ATMs” and “RSFs.” § 345.12(f)–2: Are loan production offices (LPOs) branches for purposes of the CRA? A2. LPOs and other offices are not “branches” unless they are authorized as branches of the institution through the regulatory approval process of the institution’s supervisory agency. § 345.12(g) Community development § 345.12(g)–1: Are community development activities limited to those that promote economic development? A1. No. Although the definition of “community
