Unformatted text preview: its market area. This area must be established contiguous to the bank’s branch offices. It must be mapped using the existing boundaries of the counties or the standard metropolitan areas in which the offices are located. A bank must delineate the community served, and annually review this delineation. The issue here is how a successful Internet-only bank could delineate its community. Does an Internet bank have a physically limited market area or serve a physically distinct community? Will the Federal Reserve Board, the government agency charged with enforcing this law, allow a bank to describe its market area as a “cybercommunity”?...
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- Spring '11
- Business Law, Federal Reserve System, Community Reinvestment Act, Sample answer, IBank, Hypothetical Question