Effect of CRA Performance on Applications

(1) CRA Performance. Among other factors, the Commissioner takes into account the record of performance under the CRA of each institution submitting applications for the following: (a) establishment of any branch by all state-chartered institutions; (b) establishment of Massachusetts branches by out-of-state banks, out-of-state federal banks, and foreign banks; (c) a merger or consolidation with or the acquisition of assets or assumption of liabilities of any state-chartered institution by a Massachusetts bank or bank holding company, including its subsidiaries; (d) a merger or consolidation with or the acquisition of assets or assumption of liabilities of a state-chartered institution by an out-of-state bank, an out-of-state federal bank, or an foreign bank or bank holding company, including its subsidiaries; (e) a wholly-owned subsidiary pursuant to M.G.L. c. 167F, § 2, paragraph 7; (f) an automated teller machine; (g) a mobile electronic branch; and (h) any other approval of the Commissioner, provided that there are no other countervailing financial safety and soundness or other policy considerations. (2) Interested Parties. In considering CRA performance in an application described in 209 CMR 46.29(1), the Commissioner takes into account any views expressed by interested parties that are submitted. (3) Denial or Conditional Approval of Application. An institution's record of performance may be the basis for denying or conditioning approval of an application listed in 209 CMR 46.29. (4) Alternative Branch Opening Application Procedures. The Commissioner shall establish alternative branch opening application procedures for institutions which received a rating of "outstanding" as of their most recent state or federal examination. These procedures shall include such other standards and procedures as the Commissioner deems appropriate.