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OCC Releases Community Reinvestment Act (CRA) Evaluations

Perficient

The Office of the Comptroller of the Currency (OCC) has released 15 Community Reinvestment Act (CRA) performance evaluations. Reviews, which can take weeks, assess an institution’s performance in helping to meet the credit needs of communities, including those of low or moderate income within its assessment area.

Community 294
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Revamping Data Integration for CRA Compliance: A Necessity in the New Normal

Perficient

The Community Reinvestment Act (CRA) is a federal law in the US that promotes the interest of financial service firms to serve their communities’ credit needs, including low- and moderate-income neighborhoods. New businesses like digital startups are also gaining more attention than traditional brick-and-mortar businesses.

Data 221
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DFS500 Amendments: What You Need to Know

Perficient

These DFS500 amendments signal a crucial shift in the regulatory landscape, emphasizing the imperative for robust governance, risk management, and compliance frameworks across the financial industry. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

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NYSDFS Part 500 Cyber Amendments Finalized: What You Need to Know

Perficient

The NYSDFS Part 500 amendments signal a crucial shift in the financial services regulatory landscape and underscore the importance of robust governance, risk management, and compliance frameworks. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

New York 221
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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

How can community financial institutions thrive in 2021? Community banks provide unique and important banking services for their customers, but they also face significant obstacles. Takeaway 1 Community banks play an important role in the economy and their communities, but they face significant obstacles.

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OCC Releases Latest CRA Evaluations for March 2022

Perficient

The Office of the Comptroller of the Currency (OCC) has released 11 Community Reinvestment Act (CRA) performance evaluations. At the end, a compliance rating of either “Outstanding,” “Satisfactory,” “Needs to Improve,” or “Substantial Noncompliance” is allotted.

Training 294
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Capital One seeks community plan on Discover deal, even as some activists balk

American Banker

The credit card giant says that it is "proactively meeting" with advocacy organizations to gather feedback that would help with the creation of a community benefits plan. The National Community Reinvestment Coalition, which has negotiated 21 such deals since 2016, opposes Capital One's proposed acquisition of Discover.