Tag Archives: Community Reinvestment Act

The Community Reinvestment Act (CRA) is headed for changes by The Treasury and will relook at reinvestments of banks towards supporting community needs through initiatives such as fair mortgage lending, affordable housing development, small business lending, and similar activities. In ...

Close to 5,000 U.S. areas are eligible for consideration under the Community Reinvestment Act (CRA), according to a list released by several government agencies on Wednesday. The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of Governors of the Federal Reserve System released their joint list of distressed or underserved nonmetropolitan middle-income geographies today, which pinpoints the thousands of low- and moderate-income CRA-eligible communities across the nation. Enacted in 1977, the Community Reinvestment Act encourages banks to better meet the needs of the communities in which they operate.

The Fed, OCC, and FDIC have released their 2016 list of nonmetropolitan middle-income areas deemed distressed or underserved and where revitalization or stabilization activities are eligible to receive Community Reinvestment Act consideration.

Comptroller of the Currency Thomas Curry encouraged banks to meet with stakeholders in their communities to determine effectiveness of their financial products and possibly pinpoint new business opportunities.

The Office of the Comptroller of the Currency (OCC) on Wednesday released a list of Community Reinvestment Act (CRA) performance evaluations for 33 financial institutions.

The Office of the Comptroller of the Currency (OCC) released its list of Community Reinvestment Act (CRA) performance evaluations that were made public during the month of December 2014 for 30 financial institutions.

Federal bank regulatory agencies have announced the newly-adjusted asset-size thresholds that will be used to define financial institutions under Community Reinvestment Act (CRA) regulations. According to a press release from the Federal Reserve Board, the CRA requires the thresholds to be adjusted annually in order to define institutions as either small banks, small savings associations, intermediate small banks, or intermediate small savings associations for CRA examinations. These asset-size classifications determine how institutions are evaluated under different CRA examination procedures, and determine whether or not financial institutions are subject to certain reporting requirements; those that are classified small or intermediate small are not subject to the same reporting requirements as large financial institutions.

The Office of the Comptroller of the Currency (OCC) this week released its list of Community Reinvestment Act (CRA) performance evaluations that were made public during the month of October 2014 for 36 financial institutions.

When hearing about the different narratives on the housing crisis, oftentimes the private sector is largely blamed. During an event hosted by The American Enterprise Institute (AEI) Wednesday, a recently published book was discussed which highlights a different perspective on the story of the housing market crash. Oonagh McDonald, a UK-based academic, wrote the book titled ""Fannie Mae and Freddie Mac: Turning the American Dream Into A Nightmare"" and asserts that the failures in the housing industry started with 'affordable housing ideology,' and was worsened by policy makers and the GSEs.

Federal regulators on Wednesday announced changes to the Community Reinvestment Act (CRA) parameters to support communities affected by high foreclosure levels. The final rule encourages depository institutions to finance development projects in areas that qualify for HUD's Neighborhood Stabilization Program (NSP). Institutions will receive CRA credit for any NSP-eligible activities, such as loans extended to grant recipients to buy foreclosed homes or a donation of REO properties to a nonprofit housing organization.