Five of the 23 banks whose Community Reinvestment Act (CRA) evaluation ratings became public in June were deemed “outstanding” by their federal regulator for their efforts under the anti-redlining law, with the remaining 18 deemed “satisfactory.”
The ratings were released by the Office of the Comptroller of the Currency (OCC), the primary federal regulator for national banks, federal savings associations, and insured federal branches of foreign banks.
The five CRA-“outstanding” institutions are:
- City First Bank of D.C., National Association, Washington
- The City National Bank of Metropolis, Metropolis, Ill.
- Carver Federal Savings Bank, New York
- Home National Bank, Racine, Ohio
- Martinsville First Savings Bank, Martinsville, Va.
There are four ratings possible in a CRA evaluation: outstanding, satisfactory, needs to improve, and substantial noncompliance.