CRA Public File Fees: How Much Banks & Institutions Can Charge

The Community Reinvestment Act (CRA) requires banks and financial institutions to maintain a public file containing specific records about their lending, investment, and service activities in low- and moderate-income communities. Institutions may charge a reasonable fee for providing copies of this file, but federal regulations strictly cap what they can demand. Under 12 CFR 228.43(d), the maximum allowable fee is the direct cost of duplication—typically $0.25 per page for paper copies or the actual cost of media (e.g., USB drives, CDs) for electronic requests.

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Governing Federal Agencies & Laws

The CRA public file requirements stem from three primary federal agencies, each enforcing identical rules under 12 CFR Part 228 (Regulation BB):

1. Federal Reserve Board (FRB) – Oversees state-chartered member banks.
2. Federal Deposit Insurance Corporation (FDIC) – Regulates state-chartered non-member banks.
3. Office of the Comptroller of the Currency (OCC) – Supervises national banks and federal savings associations.

All three agencies cross-reference the same regulatory text, ensuring uniform fee limits across institutions.

Key Regulatory Sections

• 12 CFR 228.43(d)(1): "A bank may charge a reasonable fee for providing copies of its public file, not to exceed the direct cost of duplication."
• 12 CFR 228.43(d)(2): "The bank must disclose the fee schedule in its public file and upon request."
• Interagency CRA Questions & Answers (Q&A) §__.43(d)-1: Clarifies that "direct cost" includes only photocopying, printing, or electronic media expenses—not labor, postage, or overhead.

State-Level Variations

While federal law sets the baseline, some states impose additional transparency rules:

• California (Financial Code § 14200-14206): Requires banks to post fee schedules online and in branch lobbies.
• New York (Banking Law § 28-b): Mandates that fees cannot exceed $0.20 per page for requests under 100 pages.
• Texas (Finance Code § 34.302): Allows institutions to charge actual media costs for electronic files but prohibits fees for inspection of the physical file.

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1. Locate the Public File

Banks must maintain the CRA public file at their main office and each branch in an MSA (Metropolitan Statistical Area). Some institutions also post portions online (e.g., CRA Performance Evaluations), but full files are typically available only in person or by request.

Where to find it:

• In-person: Ask at any branch lobby (no appointment needed).
• By mail: Submit a written request to the bank’s CRA Officer (contact info must be in the file).
• Electronically: Some banks provide files via secure email or download link (check the bank’s website).

2. Submit a Request

No formal application is required, but a written request (email or letter) helps track compliance. Include:

• Your name and contact information.
• Specific documents requested (e.g., "CRA Performance Evaluation for 2023," "HMDA Disclosure Statement").
• Preferred format (paper, USB, CD, or email).

Sample Request Template:

"To Whom It May Concern,
Pursuant to 12 CFR 228.43, I request a copy of [Bank Name]’s CRA public file, including the most recent CRA Performance Evaluation and HMDA Disclosure Statement. Please provide the documents in [paper/electronic] format. Kindly confirm the total fee in advance.
Sincerely,
[Your Name]
[Your Address]
[Date]"

3. Fee Assessment & Payment

Banks must disclose fees upfront and cannot charge for:

• Inspecting the file in person (12 CFR 228.43(c)).
• Providing the file electronically if the requester supplies their own media (e.g., USB drive).
• Postage or handling unless the requester explicitly agrees to expedited shipping.

Allowable Fees (Federal Limits):

State-Specific Fee Examples:

4. Receipt & Compliance Verification

Banks must provide:

• A detailed invoice listing per-page costs or media expenses.
• The documents within 15 calendar days (FDIC/OCC/FRB guidelines).
• A written explanation if denying any portion of the request.

Red Flags of Overcharging:

• Fees exceeding $0.25 per page (unless state law allows less).
• Charges for labor, postage, or "processing fees."
• Refusal to provide an itemized breakdown.

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Prohibited Practices

1. Charging for Inspection
• Banks cannot charge for on-site review of the public file (12 CFR 228.43(c)).
• Example: A bank demanding a "viewing fee" violates federal law.

2. Hidden or Undisclosed Fees
• Fees must be posted in the public file and disclosed upon request (12 CFR 228.43(d)(2)).
• Example: A bank charging $0.50 per page without prior notice is non-compliant.

3. Denying Requests Without Cause
• Banks must fulfill requests unless the documents are exempt (e.g., confidential supervisory information).
• Example: Refusing to provide a CRA Performance Evaluation without justification is a violation.

Exceptions & Special Cases

• Large Requests: Banks may negotiate fees for requests exceeding 500 pages but cannot exceed direct duplication costs.
• Electronic Records: If the bank provides its own media (e.g., USB), it may charge the actual cost (e.g., $10 for a 32GB drive).
• State Preemption: Some states (e.g., New York) lower the per-page fee below the federal $0.25 cap.

Penalties for Non-Compliance

Regulators may impose:

• Cease-and-Desist Orders (12 U.S.C. § 1818(b)) for repeated violations.
• Civil Money Penalties (CMPs) up to $1,100 per day (12 U.S.C. § 1818(i)(2)).
• CRA Rating Downgrades, which can block mergers or expansions.

Real-World Example: In 2021, the OCC fined a national bank $25,000 for charging $0.50 per page for CRA public file copies and failing to disclose fees upfront.

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Can a bank refuse to provide its CRA public file?

No. Under 12 CFR 228.43, banks must provide the public file upon request unless the documents are exempt (e.g., confidential supervisory information). Refusals without valid justification violate federal law.

What happens if a bank charges more than $0.25 per page?

You can file a complaint with the bank’s primary regulator:

• OCC: www.helpwithmybank.gov
• FDIC: www.fdic.gov/consumers
• Federal Reserve: www.federalreserveconsumerhelp.gov

Include copies of the invoice and request correspondence as evidence.

How long does it take to receive CRA public file documents?

Banks must fulfill requests within 15 calendar days (FDIC/OCC/FRB guidelines). If delayed, they must provide a written explanation and an estimated completion date.

Are there any free alternatives to requesting the CRA public file?

Yes. You can:

• Inspect the file in person at any branch (no fee).
• Download portions online (e.g., CRA Performance Evaluations are often on the FFIEC website: www.ffiec.gov/cra).
• Request electronic copies if you provide your own media (e.g., USB drive).

Do credit unions have to comply with CRA public file rules?

No. The CRA applies only to banks and savings associations. Credit unions are regulated under the Federal Credit Union Act and are not subject to CRA requirements.

What documents are included in the CRA public file?

The file must contain (per 12 CFR 228.43):

• CRA Performance Evaluation (most recent).
• HMDA Disclosure Statement (if applicable).
• List of branches (opened/closed in the past 2 years).
• Written comments from the public (past 2 years).
• Assessment area maps.
• Loan-to-deposit ratio (annual).

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Action Plan for Requesting CRA Public Files

1. Identify the bank’s CRA Officer (contact info should be in the public file).
2. Submit a written request (email or letter) specifying:
• Documents needed.
• Preferred format (paper/electronic).
3. Confirm the fee schedule before payment.
4. Inspect the file in person if possible (no fee).
5. File a complaint if overcharged or denied.

Official Contact Portals

Quick Reference: Fee Limits by State

Disclaimer: This article is for informational and educational purposes only. It does not constitute formal legal advice and does not establish an attorney-client relationship.