What is the definition of “PE?
“PE” refers to “Performance Evaluation.” The CRA requires each federal financial supervisory agency to use its authority when examining a financial institution subject to its supervision, to assess the institution’s record of helping to meet the credit needs of its community. Upon conclusion of such an examination, the supervisory agency must prepare a written evaluation of the institution’s CRA performance. This written evaluation is public information and can be obtained through the institution or its supervisory agency.
A3. “PE” refers to “Performance Evaluation.” The CRA requires each federal financial supervisory agency to use its authority when examining a financial institution subject to its supervision, to assess the institution’s record of meeting the credit needs of its assessment area. Upon conclusion of such an examination, the agency must prepare a written evaluation of the institution’s CRA performance record. This written evaluation is public information and can be obtained through the institution or its supervisory agency.
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