WASHINGTON - American Savings of Munster, Ind., received a rare "substantial noncompliance" Community Reinvestment Act rating from the Office of Thrift Supervision.

According to data released last week, the thrift agency's latest round of CRA evaluations resulted in 43 thrifts being rated "satisfactory," 16 "outstanding," one "needs-to-improve," and the one "substantial noncompliance."

Recent CRA ratings released by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. showed no institutions in substantial noncompliance with the reinvestment act, which requires financial institutions to help meet the credit needs of low-income and moderate-income neighborhoods.

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