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Tag Archives: CRA

The Thin Red Line

Real estate professionals are reporting that borrowers of color with good income and good credit are still finding it challenging to get loans to purchase homes. Editor’s Note: This feature originally appeared in the September issue of DS News.

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Putting Communities First

The Office of the Comptroller of the Currency released its schedule for Community Reinvestment Act evaluations at national banks and federal savings associations. The evaluation will determine how well banks are performing in local communities.

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Agencies Release CRA-Eligible List

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.

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OCC Rates Wells Fargo, While the Bank Settles Suit

Wells Fargo announced an agreement in principal to settle a class action lawsuit, regarding claims that Wells Fargo opened accounts without the consent of its customers. This comes on the heels of the announcement of the bank's Community Reinvestment Act Rating (CRA), in which it received high scores, despite an overall score of "needs improvement."

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