FDIC lists 440 banks on second-, third-quarter CRA exam schedules

A total of 440 banks throughout the Federal Deposit Insurance Corp.’s (FDIC) six regions are slated to receive evaluations under a federal anti-redlining law over the second and third quarters of 2021, information released by the agency Friday shows.

The FDIC notes that the 1977 CRA is intended to encourage insured banks and thrifts to help meet the credit needs of the communities in which they are chartered to do business, including low- and moderate-income neighborhoods, consistent with safe and sound operations. CRA examinations are performed to assess an institution’s record of helping to meet those needs.

According to the schedules released Friday, the FDIC plans to conduct CRA evaluations over the next two quarters of 60 banks in the New York region; 70 in the Atlanta region; 83 in the Chicago region; 119 in the Kansas City region; 68 in the Dallas region; and 40 in the San Francisco region. The states with the largest numbers of banks up for review include Alabama (20), Georgia (27), Illinois (31), Iowa (28), and Minnesota (27).

CRA examinations are scheduled based on an institution’s asset size and CRA rating. The possible ratings for a bank’s performance under the CRA include outstanding, satisfactory, needs to improve, and substantial noncompliance.

The FDIC notes that “absent reasonable cause,” an institution with $250 million or less in assets and a CRA rating of “satisfactor”y can be subject to a CRA examination no more frequently than once every 48 months; if the institution had a rating of “outstanding,” it can be examined for CRA no more frequently than once every 60 months.

Changes in the schedule are possible, the agency notes; if an institution is rescheduled for a different quarter, that information will be included on a later list.

FDIC Issues CRA Examination Schedules for Second Quarter 2021 and Third Quarter 2021

Second Quarter 2021 CRA Examination Schedule

Third Quarter 2021 CRA Examination Schedule

Be the first to comment

Leave a Reply

Your email address will not be published.