A total of 570 banks and savings associations throughout the country are scheduled for Community Reinvestment Act (CRA) evaluations over the first and second quarters of 2021, according to the schedules released Monday by the Federal Deposit Insurance Corp. (FDIC) and the Office of the Comptroller of the Currency (OCC).
The schedules show the FDIC will conduct evaluations for compliance with the anti-redlining rule for 240 banks and thrifts in the first quarter and another 226 in the second quarter. The OCC, according to the list for both quarters, is planning to conduct 104 CRA evaluations.
The OCC’s two-quarter schedule shows the largest number of banks up for review, 21, are in Texas. Another nine are in Illinois. The number of banks slated for the reviews in the remaining 30 states covered range from one to six.
The FDIC plans to conduct CRA reviews of 25 banks in Texas and 28 banks in Illinois, according to the agency’s first- and second-quarter schedules. Other states with relatively large numbers of banks slated for review, again for the first and second quarters combined, include Iowa (29), Missouri (28), Minnesota (26), Georgia (23), Alabama (21), Kansas (20), Wisconsin (19), and Pennsylvania (18).
At present, the OCC and FDIC are supervising under different sets of CRA rules. The OCC published a revised CRA regulation on its own this May and gave that rule an Oct. 1 effective date. However, the agency in its final rule said full compliance with the new regulations will not be required before Jan. 1, 2023. Meanwhile, the agency has a proposal out for comment on general performance standards under the 2020 final CRA rule.
FDIC Issues CRA Examination Schedules for First Quarter 2021 and Second Quarter 2021
FDIC first-quarter 2021 CRA exam schedule
FDIC second-quarter 2021 CRA exam schedule
OCC Issues First Quarter and Second Quarter 2021 CRA Evaluation Schedule
OCC first-quarter and second-quarter CRA exam schedule
RR: Rule proposed to determine general performance standards under new CRA rules (Nov. 24, 2020)