MINORITY LENDING: The Office of Thrift Supervision on June 30 issued new guidelines for lending programs aimed at disadvantaged borrowers. Thrifts must establish plans in writing and describe the class of borrowers who will benefit. Thrifts must also have detailed procedures and standards for extending credit under the program.
FHLB MEMBERSHIP: The Finance Board permitted small banks to count loans secured by farm or business properties toward the Home Loan Bank System's membership requirement if the properties include a permanent residence. Published June 29. Effective July 29.