Franklin County considered distressed or underserved nonmetropolitan middle-income geography

Franklin and Liberty counties have made the 2009 list of distressed or underserved nonmetropolitan middle-income geographies which could steer more banks to loan money here. The list is issued every year by federal bank and thrift regulatory agencies. Banks who make credit available in areas on the list receive credit under the Consumer Reinvest Act of 1977. The Act is designed to encourage regulated financial institutions to provide credit to the communities in which they are chartered, but also encourages providing credit to areas that are considered underserved like Franklin County or to areas that are hit by major natural disasters. Franklin County made the list because it is considered remote rural and underserved, Liberty County has the additional designation of being considered distressed. To see the full list of 2009 List of Middle-Income Nonmetropolitan Distressed or Underserved Geographies click HERE.