5 out of 22 banks evaluated received ‘outstanding’ marks under CRA, OCC says

The list of Community Reinvestment Act (CRA) ratings made public in February included five banks rated “outstanding” and 17 banks rated “satisfactory,” the Office of the Comptroller of the Currency (OCC) said.

The agency notes that the 1977 CRA encourages insured depository institutions to help meet the credit needs of the communities in which they are chartered, including low- and moderate-income neighborhoods, consistent with safe and sound operations. The five banks in that February list that were assigned “outstanding” ratings included:

  • Intercredit Bank, National Association, Coral Gables, Fla.
  • Citizens FS & LA, Covington, Ky.
  • Viking Bank, National Association, Alexandria, Minn.
  • S. Bank National Association, Cincinnati, Ohio
  • HSBC Bank USA, National Association, Tysons, Va.

In its release Wednesday, the OCC report showed no bank receiving a rating of “needs to improve” or “substantial noncompliance,” the other two of the four ratings possible under rules implementing the anti-redlining statute.

OCC Releases CRA Evaluations for 22 National Banks and Federal Savings Associations

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