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45. To meet the Target Market test using the Financial Services option, should an Applicant assess the Target Market qualifications of all of its unique depository account holders, or only those that opened an account during the most recently completed fi

FAQ Question

45. To meet the Target Market test using the Financial Services option, should an Applicant assess the Target Market qualifications of all of its unique depository account holders, or only those that opened an account during the most recently completed fiscal year?

FAQ Answer

A Depository Institution Applicant that chooses to meet the Target Market test using the Financial Services option must demonstrate that at least 60% of its total unique depository account holders are members of a Target Market, regardless of when the account holder opened their first depository account with the Applicant.