reinvestment laws, whichever evaluation is made available most
recently. No bank included on the list may receive deposits from
the State Treasurer. In preparing the list, the department may
rely on information received from a Federal financial
supervisory agency.
§ 7107. Transaction approval.
(a) Compliance requirement.--
(1) The department may not grant any approval under the
act of November 30, 1965 (P.L.847, No.356), known as the
Banking Code of 1965, unless the department finds that:
(i) Based on the most recent applicable performance
evaluation and any related information required by the
department, the entity has a record of compliance with
the requirements of community reinvestment laws, this
chapter, to the extent applicable, and applicable
consumer protection laws.
(ii) Except as otherwise provided in this
subsection, if the entity, and, in the case of an
approval, the bank or any subsidiary bank of the holding
company, received any overall rating other than an
assigned rating of high satisfactory or higher on its
most recent applicable community reinvestment performance
evaluation, the resulting entity will provide adequate
services to meet the banking needs of all community
residents, including low-income residents and moderate-
income residents, to the extent permitted by its charter,
in accordance with the strategic plan submitted by the
applicant to the department in a form and containing the
information as the department may require or, if
acceptable to the department, in accordance with an
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