Links in “Community Reinvestment Act (CRA)”

The OCC is moving to combine rules for National Banks and Federal Savings Banks in effort to achieve oversight uniformity. Rules of focus include consumer protection in insurance sales, Bank Secrecy Act (BSA) compliance, management interlocks, appraisals, disclosure and reporting of Community Reinvestment Act (CRA)-related agreements, and the Fair Credit Reporting Act (FCRA). [5/16]

The FDIC has produced a resource guide to helps banks identify and evaluate CRA opportunities in working with Community Development Financial Institutions. [5/9]

FDIC released its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in May 2014. Of the 87 institutions examined, 4 received outstanding, 82 were satisfactory, and 1 (Washita State Bank) needs improvement. [5/6]

The OCC released its ratings for 41 covered banks for the month of April rating 5 Outstanding and 36 Satisfactory. [5/2]

Interagency rules for Large Institution CRA Examination Procedures were released. The new rules incorporate revisions to the Q&A on CRA related to community development activities in the broader statewide or regional area that includes an institution’s assessment area as well as consideration for investments in nationwide funds. [4/21]

On the same day that the OCC Comptroller Curry gave speech on CRA, the results for March were released showing 25 Satisfactory ratings and 3 Outstanding ratings with no negative ratings during the month. Curry's speech at the 2014 National Interagency CRC promotes alternative to payday lending through FIs (see this). [4/2]

Campaign for the April month-long focus on increasing financial literacy will include outreach efforts with national and local organizations to promote planned events and efforts to increase knowledge. CRA-related FIs could outreach to CUs to magnify efforts and gain Community Development Services benefits. [3/27]

This speech to the National Community Reinvestment Coalition focuses on rural outreach efforts and the role OCC is playing in providing guidance through updated Q&A on Community Development Initiatives that have broader regional/state impact. [3/13]

48 national banks' and federal savings associations' CRA results released. It has been a good year so far with 12 Outstanding ratings, 36 Satisfactory ratings, and 0 Needs to Improve ratings for the months of January and February. [3/13]

The OCC results of the December 2013 evaluations shows 34 Public Evaluations made available with 9 rated outstanding, 23 rated satisfactory, and two rated needs to improve (Woodforest National Bank (Texas) and E*Trade Savings Bank). [3/12]