One “outstanding” evaluation, 15 “satisfactory” ratings and no ratings of “needs improvement” or “substantial noncompliance” were noted in January listings for Community Reinvestment Act (CRA) performance evaluations released by the Office of the Comptroller of the Currency (OCC) Wednesday.
According to the OCC, The Clinton National Bank of Clinton, Iowa, (assets: $420 million) was evaluated as the sole “outstanding” bank in its CRA evaluation based on OCC review.
The report comes shortly after recent comments by Comptroller of the Currency Joseph Otting that his agency is considering ways to “improve” CRA regulations.
Last week, Otting said his agency will formally seek public input on ways to improve CRA regulations in the next 30 days, in an interview published by Politico. He said the current rule “calls out for simplification in my mind and clarity around what CRA is and how you would measure one’s success.” He said regulators should “create a simple benchmark that everyone can measure against.”
OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations