Banks on the list of Community Reinvestment Act (CRA) performance evaluation ratings that became public in August included nine rated “satisfactory” and two rated “outstanding,” the national bank regulator said.
The list, released Tuesday, showed that Esquire Bank, N.A., Jericho, N.Y., and Chain Bridge Bank, N.A., McLean, Va., were both deemed “outstanding” under the anti-redlining rule. None of the 11 banks on the list was rated “needs to improve” or “substantial noncompliance,” the only two other ratings possible.
The OCC said its CRA evaluations assess banks’ records of meeting the credit needs of their entire communities, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution.
The list includes the national banks, federal savings associations, and insured federal branches of foreign banks that have received CRA ratings, it said.
OCC Releases CRA Performance Evaluations for 11 National Banks and Federal Savings Associations
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