1 bank ‘needs to improve’, 4 are ‘outstanding’ in recent CRA evals, FDIC reports

Out of 86 banks whose Community Reinvestment Act (CRA) ratings bestowed in March, one was deemed “needs to improve” and four were “outstanding” for their efforts under the anti-redlining statute, according to the Federal Deposit Insurance Corp.’s (FDIC) June list of ratings released Thursday.

The bank rated “needs to improve” was Banco do Brasil Americas, Miami, Fla. The four “outstanding” institutions included Truist Bank, Charlotte, N.C.; Bank of Ontario, Ontario, Wis.; McClave State Bank, McClave, Colo.; and UBS Bank USA, Salt Lake City, Utah.

All of the 81 remaining banks on the agency’s June list received the rating of “satisfactory”; none was flagged for “substantial noncompliance.”

FDIC Issues List of Banks Examined for CRA Compliance