A friend from church is trying to raise money for a small local charity and is making the rounds of area businesses looking for contributions. He is under the impression that banks are good candidates to request donations from because they have mandatory standards for charitable donations in order to comply with the Community Reinvestment act. However, his branch manager is claiming that her bank is not subject to the CRA rules and that she is not familiar with the details of the program because it doesnít apply.
Does anyone know if banks are required to make a minimum amount of contributions? If so, are some banks able to obtain exemptions? If not, should the bank be reported to whatever government agency oversees the program?