The second release of data entry software (DES) for financial institutions reporting their 2020 reporting compliance with anti-redlining rules is ready, the umbrella group for federal regulators said Tuesday.
In a release, the Federal Financial Institutions Examination Council (FFIEC) said the second release of the 2020 Community Reinvestment Act (CRA) reporting software includes the 2020 census update and an enhancement of the “Submission via Web” data export option.
The DES – provided at no charge – was designed by the Federal Reserve, the exam council said, to help banks automate the filing of CRA data. The agency said the updated software “includes editing features to help verify and analyze the accuracy of the data.”
The FFIEC said the data file created using this software can be submitted by one of the submission methods listed in the software.