OCC finds one bank ‘outstanding,’ another ‘needs to improve’ under CRA

Of the handful of banks – 13 – that received their evaluation ratings under federal anti-redlining rules in April, all were found to be “satisfactory” except two, according to results released Thursday by the national bank regulator.

The Office of the Comptroller of the Currency (OCC) data showed that MidFirst Bank of Oklahoma City, Okla., received a rating of “outstanding” last month in its Community Reinvestment Act (CRA) evaluation. City National Bank of Los Angeles, Calif., was rated “needs to improve.”

Possible CRA ratings are “outstanding,” “satisfactory,” “needs to improve,” and “substantial noncompliance.” No bank on the OCC’s April list was rated “substantial noncompliance.”

The OCC said its list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings.

OCC Releases CRA Evaluations for 13 National Banks and Federal Savings Associations

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