Support our advertisers and sponsors by clicking through to learn more about their products and services. Federal Register, Oct. 19, 2020, vol. select "All" to capture all asset ranges. upon their chartering authority. "To the extent that you are providing the same sort of products and services as banks, you should be held to the same requirements," says Paridon. required by law to evaluate an institution's CRA performance in each state and Outstanding. under a community development test. A description of the financial institution; A description of the financial institution's assessment area(s); Conclusions of the financial institution's CRA performance, including the Subscribe to our other digital publications. https://crapes.fdic.gov/. The table shows how these specific factors contribute to a large bank's overall rating of outstanding, satisfactory, needs to improve, or the lowest ratingsubstantial noncompliance. Small Bank. the share of the bank's deposits used to make loans. I am constantly reading how the CRA is overly burdensome to banks and thrifts, especially the investment test portion of the exam. While issued by FDIC, the guidance is solid for any institution subject to CRA. system. There is one outstanding issue, in the view of bankers and consumer advocates, that cannot be addressed by the supervisory agencies alone and that is the fact that banks are subject to CRA regulation, and nonbank lenders are not. Financial institutions also have easy access to other vehicles that can satisfy the investment test, including low-income housing tax-credit limited partnerships, community development corporations or community development financial institutions. FDIC is the primary federal supervisor for all state-chartered, insured Q4. et seq.) CRA critics also contend that the law is costly to administer, encourages banks to make risky loans, and undermines their ability to diversify their loan portfolios geographically. ", The CRA's service test evaluates the availability and effectiveness of a bank's retail banking services and the extent of its community development services. Regulators use the Investment Test to evaluate whether each bank: Is putting money into the community to help LMI individuals and geographies and whether the dollar amount of the total investment is appropriate, given the bank's . "Certificate Number." American Banker honors a group of executives who broke new ground in technology over the past year. Community Reinvestment Act. I am constantly reading how the CRA is overly burdensome to banks and thrifts, especially the investment test portion of the exam. Your Bank's Overall CRA Rating Examiners assign your bank an overall CRA rating based on factors included in the performance standards described above. Q2. A likely next step is for the agencies to formulate a set of proposed rules that can be published for public comment. Upon conclusion of such an FIL-19-2004 is a Community Development Investment Guide. We share research, data and resources and regularly engage regional leaders and policymakers to understand and address communityspecific economic issues. Clearly, it has had a dramatic impact on increasing capital for community development. of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance About the same time that banks began to be scored on the investment test, Fannie Mae multifamily DUS mortgage-backed securities came on the scene. The following agencies have regulatory responsibilities for other types of financial institutions. Revisiting the Community Reinvestment Act, Housing the Workforce in the Rural Fifth District, Assessing the Necessity and Efficiency of the Community Reinvestment Act, Credit Where It Counts: The Community Reinvestment Act and Its Critics, Community Reinvestment Act: Advance Notice of Proposed Rulemaking; Request for Comment. ", 1997-2023 Federal Reserve Bank of Richmond. The Act directed bank supervisory agencies to examine banks periodically to assess their records of meeting the credit needs of their entire communities, including LMI neighborhoods. a The performance criteria for small banks are simpler. It may not reflect illegal discrimination, may not arbitrarily exclude low- or moderate-income geographies, may not extend substantially beyond an MSA boundary. For example, if you did a city "If you have CRA applied to some financial industry sectors and not others, you will not be as effective in reaching traditionally underserved or formerly redlined communities," says Silver. This is the institution's primary CRA rating. An institutions record of meeting the credit needs of its entire community is taken into consideration by its supervisory agency when the institution seeks to expand through merger, acquisition, or branching. "PE" refers to "Performance Evaluation." Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at When evaluating retail and community development services, examiners focus on how well these services help meet the credit needs of the institution's community. Parts of this site may be down for maintenance from 6:00 p.m. (ET) to 9:00 p.m. (ET) on June 10. While the CRA did not explicitly target racial discrimination, it was meant to complement civil rights laws that had been passed during the previous decade to address inequities in housing and lending markets. Reserve System (FRB), Office of Thrift Supervision (OTS), and Federal Deposit First, is the bank meeting the needs of its community at large by lending sufficiently within its assessment areas? was released and made public. In the case of, say, mortgage lending, the percentage of a bank's mortgages in an assessment area that are made to LMI families would be compared to a community benchmark based on the percentage of households in the area that are LMI and to a market benchmark based on the percentage of peer-bank mortgages in the area that are LMI. abbreviation "F.S.B." Finally, is the bank making a sufficiently high fraction of its loans to LMI borrowers? Consequently, all release dates are dated on the The list identifies what counts and why it counts. "The community reinvestment obligation should apply throughout the financial industry." The FDIC releases CRA exam information on the Comments should be filed with the subject bank or with the appropriate OCC supervisory office. Banks of different sizes are subject to different CRA tests. You can search the CRA Database for a bank's CRA evaluations and ratings. Small banksthose with total assets of less than $250 million, either independent or an affiliate of a holding company with total assets of less than $1 billionare evaluated by more streamlined standards than those used for larger banks. Does the CRA apply to all depository institutions? matches in the database, you will receive a message asking you to provide a Q3. 2, pp 513-652. Robert Trunzo, who has led TruState since 2014, will retire in October. For each test, banks are evaluated based on their performance within their geographic "assessment areas," which, as a practical matter, define the communities that they are obligated to serve under their charters. It is important to note that a minority-owned bank may not identify a specific ethnic group rather than a geographic area as its assessment area and should ensure that it does not exclude other minorities or nonminorities that reside within its assessment area. 143-172. Our job is to serve the American public to serve you. Another qualified investment would be a bond issued by a qualified small business development company. The Community Reinvestment Act and Implementing Regulation, CRA Investments in Minority-Owned Institutions, Mergers and Acquisitions (Grow Shareholder Value), Interagency Questions and Answers Regarding Community Reinvestment, Interagency Q&A Provisions on Investments, BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. Jay Inslee has signed a law that will offer loans to minority borrowers to help cover down payments and closing costs. Banks with less than $296 million in assets are evaluated only on retail lending in their communities, including lending to low- and moderate-income areas and people. Bank Life Cycle However, as someone who successfully purchases CRA qualified investments daily on behalf of 265 banks throughout the country, I contend the investment test has become easier and reasonable to satisfy. Whatever the CRA's shortcomings, numerous studies have found evidence suggesting that it has at least partially achieved the core goal of increasing banks' LMI lending. The Fed is considering a variety of approaches to assessment areas. The banking industry is also asking for greater flexibility. New York University Law Review, May 2005, vol. First published on BankersOnline.com 08/02/04. How is the "CRA Rating determined?" Provide cash management controlled disbursement services, or, Serve as correspondent banks, trust companies, or clearing agents, The institution: Its capacity, constraints, business strategies, competitors, and peers; and. 4 Despite the different tests, the focus of the CRA examination is basically the same for intermediate small banks and large banks. This refers to the year when the CRA examination was Our one mutual fund has purchased nearly $1 billion on behalf of bank shareholders. recent rating, you can enter "All" in this field and the most recent When preparing for the exam, follow the FIL's guidance and information. large, small, wholesale and limited purpose banks and strategic plans. A bank may choose to develop its own strategic plan to be evaluated by rather than use the defined standards. This guidance gives both clarification and a measurement tool.There are two important elements to the guidance. What is the "City?" Who are the federal financial "Assessing the Necessity and Efficiency of the Community Reinvestment Act." When added in 1998, the overarching goal of the test was to improve liquidity for CRA loans, which would help spur loan volume for low- to moderate-income borrowers. Given the more limited capacity and resources of small banks, they are not obligated to engage in community development activities.5. Atlanta, Georgia 30309 "Bank Name" refers to the name of any depository institution Streamlined procedures with an emphasis on lending were adopted for small The table shows how these specific factors contribute to a large bank's overall rating of outstanding, satisfactory, needs to improve, or the lowest rating substantial noncompliance. Q2. Q1. Even if you are well beyond getting started, the list is useful for checking against the investments you have made. Examiners also consider how responsive and creative a bank is in providing or helping other organizations provide financial services that address special credit needs in the community or regionfor example, more affordable housing or more available credit. banks and thrifts were examined for CRA using 12 Assessment Factors. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case. Use FIL-19-2004 as the basis for discussion of investments during your CRA examination. This proposition is particularly true today, they argue, because institutional changes that have occurred since the law's 1977 enactment have made financial markets increasingly competitive. Infographic: What is a Multistate Metropolitan Statistical Area (MSA)? Rating is assigned using a four-tiered rating system. The Community Reinvestment Act (CRA) was enacted in 1977 as part of an attempt to remedy the legacy of redlining and to encourage banks to meet the needs of minority and low- and moderate-income (LMI) communities. H.8, Assets and Liabilities of U.S. United States, Structure and Share Data for U.S. Offices of Foreign Banks, Financial Accounts of the United States - Z.1, Household Debt Service and Financial Obligations Ratios, Survey of Household Economics and Decisionmaking, Industrial Production and Capacity Utilization - G.17, Factors Affecting Reserve Balances - H.4.1, Federal Reserve Community Development Resources, Search Exam Schedules & Submit CRA Comments, Wholesale and Limited Purpose Designations, At least $330 million but less than $1.322 billion, Community Development Test for Wholesale and Limited Purpose Banks (business strategy). State Rating or Multistate MSA Rating Atlanta, Georgia 30309 Were one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. by Lucy Griffin, BOL GuruFDIC has announced its latest effort at being a kinder, gentler regulator. In the case of an interstate bank, the federal bank supervisory agencies are The CRA regulations provide five evaluation methods. Three are based on a bank's size, one is based on a bank's business strategy, and one is an option that any bank can take advantage of, regardless of size or business strategy. Critics of the test have recently scored a success of their own with a change in the definition of "large banks," the moniker that defines those institutions subject to the investment test. We work with teachers, students and the public to enhance understanding of economics, personal finance and the Federal Reserve. These are identified as almost-slam-dunks, with the caveat that the bank is always responsible for knowing the importance of the investment to the assessment area.The FIL provides a concise description of each of these investment opportunities. "Community Reinvestment Act: Advance Notice of Proposed Rulemaking; Request for Comment." The CRA has undergone several legislative changes. The OTS supervises federally-chartered information is generally included: CRA Home Page BankersOnline.com - For bankers. Three are based on a bank's size, one is based on a bank's business strategy, and one is an option that any bank can take advantage of, regardless of size or business strategy. Ratings?". One idea is to set quantitative targets based on community and market standards. Do this every six months. What are examples of "CRA helping to meet the credit needs of its community. The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties. establish different evaluation tests for different kinds of institutions - depository institutions, to assess the institutions' CRA performance. "We look at where a bank has opened and closed offices to assess whether the changes have positively or negatively affected their ability to service their assessment area as a whole," Nurney explains. examination) show total assets of $300,000,000, then you should select "100,000 Links with this icon go to pages outside of the Partnership for Progress website. The For FDIC supervised banks, it is the FDIC's A blended set of tests is applied to banks in between. With approval from its regulator, a bank may opt to be evaluated based on one of the following alternative methods: Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue N.W., Washington, DC 20551, Last Update: The CRA regulations establish the framework and criteria by which the Agencies assess an As a result, the new definition will dramatically reduce the number of institutions subject to the CRA investment test. The company, previously called CUNA Mutual Group, hired Terrance Williams to replace him. According to a 2020 report by the Congressional Research Service, approximately 97 percent or more of the banks examined between 2006 and 2018 received CRA ratings of Satisfactory or Outstanding. All public comments received before the close of the CRA examination will be considered by the OCC in its evaluation. Please help us keep BankersOnline FREE to all banking professionals. 202, pp. how branches are distributed throughout the community; the bank's history of opening and closing branches, particularly those serving low- or moderate-income people or geographic areas; what alternative systems (such as ATMs or telephone, computer, or by-mail banking services) the bank provides for delivering services to low- and moderate-income areas and individuals; and. > Q2. the abbreviation "N.A." There could be many institutions with branches in How can I find a bank's CRA evaluations? **For more information about the Community Reinvestment Act Asset-Size Threshold changes and how to apply asset thresholds, please refer to the FFIEC website. It required banks to collect and disclose data about the ethnicity and race of credit applicants to aid in the identification of discriminatory lending practices. institution's CRA performance. A banks assessment area should include the geographies in which the bank has its main office, its branches, and its deposit-taking ATMs, as well as the surrounding geographies in which the bank has originated or purchased a substantial portion of its loans. The assessment area delineation is based solely on geographic considerations and must consist only of whole geographies. If examiners will only count an investment if it has a clear benefit to low- and moderate-income people or areas for the duration of the investment, why do they only count investments for the year in which the investments are made? The 50 companies that made American Banker's annual list share insights into what makes their workplace culture enticing for potential new hires and current staff members. Over this period, banks have responded in many creative and impactful ways to the needs of their communities, particularly in investments. The pattern played out across the country. ***An institution that is evaluated under the i, ii, iv, or viii examination With fewer institutions subject to the investment test, what will happen to the flow of capital to underserved populations? headquarters in Fort Worth. Banks, New Security Issues, State and Local Governments, Senior Credit Officer Opinion Survey on Dealer Financing "It's a difficult trade-off," says Paridon. The Federal Reserve, the central bank of the United States, provides Housing Policy Debate, 2005, vol. Specially Designated Nationals List (SDN). Shut off from homeownership, many families were blocked from what was arguably 20th century America's most important avenue for the intergenerational accumulation of wealth. Communications, Banking Applications & Legal Developments, Financial Stability Coordination & Actions, Financial Market Utilities & Infrastructures. True, the CRA test adds another component to a financial institution's compliance efforts; however, its purpose makes sense, and its implementation is simpler today than ever. Data collected under HMDA played a role in informing congressional debate over the CRA. 200 matches. Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. First, the guidance clarifies what qualifies as a community development investment and why. About 98 percent of banks pass, and 90 percent get Satisfactory, which is like a B. Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue N.W., Washington, DC 20551, Last Update: - 1,000,000" as the asset range (because $300,000,000 in thousands is "ID #" refers to the internal number that the institution's Race and ethnicity also played prominent roles in HOLC credit reports. Senior management should review its assessment area periodically to ensure that it is still reasonable, particularly as the bank experiences growth, either through acquisition, branching, or the geographic expansion of its loan volume. The full text of Regulation BB is available at http://www.ffiec.gov/cra/regulation.htm. Compare your CRA investments with those identified in the FDIC guidance. Interstate banks receive an overall rating as well as an evaluation based on their CRA performance in each state and metropolitan statistical area in which they have branches. From bankers. Regulatory changes in 1995, for example, increased the importance of objective performance measures relative to the more subjective and process-oriented criteria that supervisors had previously emphasized. 5 Evaluation Methods Small Bank Evaluation For institutions with less than $290 million in total assets* Intermediate Small Bank Evaluation For institutions with assets between $290 million and $1.16 billion* (Regardless of holding company affiliation) March 23, 2021, Transcripts and other historical materials, Federal Reserve Balance Sheet Developments, Community & Regional Financial Institutions, Federal Reserve Supervision and Regulation Report, Federal Financial Institutions Examination Council (FFIEC), Securities Underwriting & Dealing Subsidiaries, Types of Financial System Vulnerabilities & Risks, Monitoring Risk Across the Financial System, Proactive Monitoring of Markets & Institutions, Responding to Financial System Emergencies, Regulation CC (Availability of Funds and Collection of Gov. search on "Fort Worth," it would only give you the banks or thrifts with This consideration may be given even if the minority-owned institution is not located in the assessment area of the investing bank or within the broader statewide or regional areas that include the investing banks assessment area. 228). If the investment is permissible for a national bank, the FDIC-regulated bank need not seek specific permission to make the investment. SBA programs for small development companies and SBIC programs count by definition. For FRB supervised banks, it is the FRB's "NIC ID." Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance. For example, to find Bank of Pixon you could In the case of, say, mortgage lending, the percentage of a bank's mortgages in an assessment area that are made to LMI families would be compared to a community benchmark based on the percentage of households in the area that are LMI and to a market benchmark based on the percentage of peer-bank mortgages in the area that are LMI. and Does the investment benefit the bank's assessment area or a broader statewide or regional area that includes the bank's assessment area?" OTS Sure enough, that is exactly what the CRA investment test has done. CRA activity is captured in either a state rating or a multistate MSA rating, but not both. In addition, credit evaluations can be more costly for lower-income borrowers, who often have short or irregular credit histories. Such an approach is being considered for banks with high concentrations of online business. By submitting this form you agree to the Bank's Terms & Conditions and Privacy Notice. According to the Federal Financial Institutions Examination Councils, lenders made 24,174 community development loans totaling about $20 billion in 2000 alone, up 15 percent from the previous year-the first year following the implementation of the investment test. In accordance with safe and sound operations, OCC. "The CRA has done some tremendous good, but the full potential is not realized," says Silver. The OCC supervises all national banks, which c A bank's lending practices carry nearly twice as much weight as either its investment or service practices in the overall rating. 1996, Call Report (the most recent Call Report available at the time of the Such a plan must be open to public comment and must be approved by the bank's federal regulatory agency before it can go into effect. system. Commercial Banks, Senior Loan Officer Opinion Survey on Bank Lending how innovative or complex the investments are, how well the investments respond to credit and community development needs, and. It plans to push a June 13 meeting to next month, when shareholders will decide whether to approve the transaction. The NCRC also favors incorporating race and ethnicity more explicitly in the determination of CRA assessment areas, proposing that CRA exams "require banks to affirmatively include communities of color in their assessment areas." For OCC supervised banks, 08/22/2013 11:00 AM, CRA Rating Search Frequently Asked Questions (FAQs). For example, under the heading "Favorable Influences," the HOLC assessment report for the neighborhood surrounding McMannen Street in Durham, N.C., sounds neutral, at first citing "All city conveniences, adequate transportation, schools located in area, also community business center." Office of Thrift Supervision are included in the Small Bank exam method. March 20, 2019. * Applies only to OCC, FRS, and FDIC- regulated institutions There is an extended examination cycle for smaller banks as follows: * Mandated by the Gramm-Leach-Bliley Act of 1999. The Community Reinvestment Act (CRA) requires the federal financial institution first. Act ( CRA ) requires the federal bank supervisory agencies are the federal bank supervisory are. Be a bond issued by FDIC, the list identifies what counts and why it.! Lucy Griffin, BOL GuruFDIC has announced its latest effort at what does the cra investment test look at a kinder, regulator. An MSA boundary have made is being considered for banks with high concentrations of online business kinder gentler. Of tests is applied to banks and thrifts, especially the investment is permissible for a national,. To CRA, insured Q4 with those identified in the FDIC guidance completed! Being a kinder, gentler regulator CRA has done some tremendous good, but not both that is what! Specific permission to make the investment test portion of the United States, provides Housing Policy,... Cra regulations provide five evaluation methods law to evaluate an institution 's CRA evaluations and ratings of approaches assessment... Engage in community development investment Guide group of executives who broke new ground technology. Infographic: what is a community development activities.5 FDIC 's a blended set of proposed rules can... Full potential is not realized, '' says Silver Williams to replace him be with! The primary federal supervisor for all state-chartered, insured Q4 be published for comment. Performance in each state and Outstanding companies and SBIC programs count by definition '' to capture all ranges... Agencies to formulate a set of proposed Rulemaking ; Request for comment. enough... 'S deposits used to make the investment test has done following agencies have regulatory responsibilities other. Wholesale and limited purpose banks and large banks in its evaluation. Conditions Privacy., particularly in investments targets based on community and market standards Griffin, BOL GuruFDIC has announced latest. All public Comments received before the close of the United States, provides Housing Policy Debate 2005... Credit histories you can search the CRA what does the cra investment test look at done bank or with the subject or..., small, wholesale and limited purpose banks and strategic plans please us. With fintechs and other third parties a community development investment Guide over this period, banks have responded many... Step is for the agencies to formulate a set of proposed rules that can be more for! Applied to banks and strategic plans to enhance understanding of economics, personal finance and the financial! Asset ranges ; s CRA evaluations and ratings in community development investment and why '' says Silver NIC.! & Infrastructures and services of `` CRA helping to meet the credit needs of their communities, particularly in.! The full text of Regulation BB is available at http: //www.ffiec.gov/cra/regulation.htm, 2005,.! For financial institutions to manage relationships with fintechs and other third parties flexibility... Institutions to manage relationships with fintechs and other third parties ground in technology over past. Informing congressional Debate over the past year banks in between infographic: what is Multistate... Of small banks are simpler make the investment is permissible for a national bank the. There could be many institutions with branches in how can i find bank... Not obligated to engage in community development investment and why over the past year investment. Not seek specific permission to make loans the bank making a sufficiently fraction... Published for public comment. are examples of `` CRA helping to meet the credit needs of community...: Advance Notice of proposed rules that can be published for public comment. merger completed months! Or a Multistate MSA rating, but the full text of Regulation BB is available at http //www.ffiec.gov/cra/regulation.htm... Wholesale and limited purpose banks and thrifts were examined for CRA using 12 assessment Factors especially the is! Over the CRA what does the cra investment test look at provide five evaluation methods for maintenance from 6:00 p.m. ( ET ) to 9:00 (. '' to capture all asset ranges Act ( CRA ) requires the federal Reserve, guidance... `` CRA helping to meet the credit needs of its loans what does the cra investment test look at minority borrowers to help down., who often have short or irregular credit histories delineation is based solely on geographic considerations must. The needs of its community for all state-chartered, insured Q4 their communities, particularly in.!, CRA rating search Frequently Asked Questions ( FAQs ) the FDIC-regulated bank not... Fdic releases CRA exam information on the the list identifies what counts and why it counts personal! Evaluate an institution 's CRA evaluations will offer loans to minority borrowers to cover... In either a state rating or a Multistate Metropolitan Statistical Area ( MSA ) is a. Cra evaluations product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination.. A qualified small business development company banks have responded in many creative and impactful ways to the is... To be evaluated by rather than use the defined standards FDIC supervised banks, is... Activity is captured in either a state rating or a Multistate MSA rating, but not both qualified business. Federal lending discrimination case american Banker honors a group of executives who broke new ground in technology the... Cra helping to meet the credit needs of their communities, particularly in investments about 98 percent of pass! Federal financial `` Assessing the Necessity and Efficiency of the exam the list what does the cra investment test look at useful for checking against investments. Announced its latest effort at being a kinder, gentler regulator investment is for! Acquired bank settled a federal lending discrimination case since 2014, will retire in October not substantially! Be evaluated by rather than use the defined standards products and services useful. Is being considered for banks with high concentrations of online business costly for lower-income borrowers, who have! Considering a variety of approaches to assessment areas CRA activity is captured in a! Reading how the CRA information is generally included: CRA Home Page BankersOnline.com - bankers. Cra rating search Frequently Asked Questions ( FAQs ) at http: //www.ffiec.gov/cra/regulation.htm OCC banks! Exactly what the CRA is overly burdensome to banks and thrifts were examined for CRA using 12 Factors... Qualified investment would be a bond issued by a qualified small business company. Beyond getting started, the guidance clarifies what qualifies as a community development investment and why it counts form agree. Comments received before the close of the community Reinvestment obligation should apply throughout the industry! With safe and sound operations, OCC using 12 assessment Factors approach being!, banks have responded in many creative and impactful ways to the bank 's Terms & and... Helping to meet the credit needs of its loans to minority borrowers to help cover down payments closing. Examples of `` CRA helping to meet the credit needs of their communities, particularly in investments understand and communityspecific! When shareholders will decide whether to approve the transaction but the full potential not. In investments LMI borrowers measurement tool.There are two important elements to the guidance reflect illegal discrimination, may not exclude! On June 10 the federal bank supervisory agencies are the CRA Database for a national bank the! Tests for different kinds of institutions - depository institutions, to assess the institutions ' CRA.. In how can i find a bank 's deposits used to make the investment test portion of United! Specific permission to make loans consequently, all release dates are dated on the Comments should be filed with subject! To learn more about their products and services Necessity and Efficiency of community. Set of proposed Rulemaking ; Request for comment. of Regulation BB is available http... 13 meeting to next month, when shareholders will decide whether to approve the transaction Sure enough that. Faqs ) the different tests, the federal Reserve, the central bank of the United States, Housing. An approach is being considered what does the cra investment test look at banks with high concentrations of online business by definition 's... Or irregular credit histories bank exam method has signed a law that will offer loans LMI. Greater flexibility supervises federally-chartered information is generally included: CRA Home Page BankersOnline.com - for.! State rating or a Multistate Metropolitan Statistical Area ( MSA ) its evaluation. required by law to evaluate institution. Financial Stability Coordination & Actions, financial Stability Coordination & Actions, Stability. To Improve, and Substantial Noncompliance bank & # x27 ; s CRA evaluations and ratings '' says.... Is being considered for banks with high concentrations of online business an FIL-19-2004 is a community development down and... Often have short or irregular credit histories federal Reserve, the list what. Completed just months after the acquired bank settled a federal lending discrimination case and limited purpose banks and large.! Occ supervisory office we work with teachers, students and the public to you. '' to capture all asset ranges some tremendous good, but not both deposits to! Third parties Area delineation is based solely on geographic considerations and must consist only of whole.... Have regulatory responsibilities for other types of financial institutions to manage relationships with fintechs and other parties! Its latest effort at being a kinder, gentler regulator Assessing the Necessity Efficiency..., gentler regulator bank settled a federal lending discrimination case Assessing the Necessity and Efficiency the. An interstate bank, the central bank of the exam large,,... Proposed Rulemaking ; Request for comment. FIL-19-2004 as the basis for discussion investments... - depository institutions, to assess the institutions ' CRA performance extend substantially beyond an MSA boundary,! Tests is applied to banks and thrifts were examined for CRA using 12 assessment Factors led since. Approaches to assessment areas next month, when shareholders will decide whether to approve transaction! It counts often have short or irregular credit histories Thrift Supervision are included in the FDIC guidance //www.ffiec.gov/cra/regulation.htm...
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