Data on small business, small farm, and community development lending during 2024 – required by rules implementing anti-redlining laws – was released Thursday by federal banking agencies.
In joint releases, the Federal Reserve, Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) noted that Community Reinvestment Act (CRA) regulations require the agencies to annually disclose these data.
Aggregate reports of small business and small farm lending for each metropolitan statistical area and for each county in the United States and its territories was also released, as prepared by the regulators’ umbrella group the Federal Financial Institutions Examination Council (FFIEC).
The agencies noted that the small business and small farm lending data provide “useful information,” but are “less comprehensive than the data reported on home mortgage lending under the Home Mortgage Disclosure Act” (HMDA).
The agencies said the latest data:
- include information on loans originated or purchased, but not on applications for loans that were not originated;
- indicate whether a loan is extended to a borrower with annual revenues of $1 million or less, but do not identify a borrower’s annual revenues with any greater precision, nor do they include demographic information about borrower(s); and
- are aggregated into three categories based on loan size and reported at the census tract level, rather than loan-by-loan.
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