Two banks earn ‘outstanding’ CRA evaluations from OCC in August; no bank out of compliance or ‘needs improvement’

Two financial institutions earned “outstanding” ratings in their evaluations for compliance with rules implementing anti-redlining laws – and 14 others received “satisfactory” – according to results for August released Thursday by the federal regulator of national banks and federal savings associations.

None of the Community Reinvestment Act (CRA) compliance evaluation ratings released (16 total) were given either “needs to improve” (NI) or “substantial non-compliance” (SN), the Office of the Comptroller of the Currency (OCC) said in a release.

Banks earning “outstanding” evaluations for CRA compliance in August were First National Bank of Waverly, Iowa, and; Capital One Bank (USA), National Association of Glen Allen, Va. First National is listed as an “intermediate small bank,” and Capital One as a “limited purpose bank,” largely confined to issuing and processing credit cards.

OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations