As it weighs new rules, agency schedules more than 500 CRA exams for 2019 second half

Comptroller issues schedule for 3rd, 4th quarters too

As it gets ready to propose a revamp of its rules implementing anti-redlining laws, the federal insurer of bank deposits is also readying exams under current rules for more than 500 banks in the second half of the year, according to schedules released Thursday.

In its lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the third quarter of 2019 and fourth quarter of 2019, the Federal Deposit Insurance Corp. (FDIC) listed 510 banks and savings institutions that are up for examinations; more than half of those exams (57%) will come in the third quarter. The number of institutions scheduled for exams represent about 9.6% of all federally insured banks and savings institutions.

Separately, the Office of the Comptroller of the Currency (OCC) released its own schedule of 147 national banks and thrifts that it has scheduled for CRA examinations in the third and fourth quarters.

Under current rules, each federal bank and thrift regulator is required to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The FDIC noted that examinations are scheduled based on an institution’s asset size and past CRA rating. “Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of ‘Satisfactory’ can be subject to a CRA examination no more frequently than once every 48 months,” the FDIC said in a release. “Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of ‘Outstanding’ can be subject to a CRA examination no more frequently than once every 60 months.”

On Wednesday, FDIC Board Chairman Jelena McWilliams acknowledged that her agency (working with other federal banking agencies) is within “a week or so” of completing a discussion draft of a proposal to revamp rules implementing CRA. She added that she expects a notice of proposed rulemaking on the changes within two months.

Under the schedules released by the FDIC Thursday, Iowa has the most banks scheduled for examinations (with 40 over the two quarters). Under the OCC schedule, 19 of the banks scheduled are in Texas.

However, as the FDIC notes, the schedules are based on “the best information now available and are subject to change.”

FDIC Issues CRA Examination Schedules for Third Quarter 2019 and Fourth Quarter 2019

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