Author: findCRA

§__.44 Placement and Size Requirements for CRA Public Notice

§__.44 – 1 Q: Are there any placement or size requirements for an institution’s public notice? A1. The notice must be placed in the institution’s public lobby, but the size and placement may vary. The notice should be placed in a location and be of a sufficient size that customers can easily see and read it.  …

§__.45 Agency Publication of Planned CRA Examination Schedule

§__.45 – 1 Q: Where will the Agencies publish the planned examination schedule for the upcoming calendar quarter? A1. The Agencies may use the Federal Register, a press release, the Internet, or other existing Agency publications for disseminating the list of the institutions scheduled for CRA examinations during the upcoming calendar quarter. Interested parties should contact the appropriate…

§__.45 Inclusion on Planned CRA Examination Schedule Variances

§__.45 – 2 Q: Is inclusion on the list of institutions that are schedule to undergo CRA examinations in the next calendar quarter determinative of whether an institution will be examined in that quarter? A2. No. The Agencies attempt to determine as accurately as possible which institutions will be examined during the upcoming calendar quarter. However, whether…

APPENDIX A to Part __- 1 Performance Fit to Receive Particular Rating

APPENDIX A to Part ___ – 1 Q: Must an institution’s performance fit each aspect of a particular rating profile in order to receive that rating? A1. No. Exceptionally strong performance in some aspects of a particular rating profile may compensate for weak performance in others. For example, a retail institution other than an intermediate small institution…

APPENDIX B to Part__-1 Agency Information for CRA Public Notice

APPENDIX B to Part ___ – 1 Q: What agency information should be added to the CRA notice form? A1. The following information should be added to the form: OCC-supervised institutions only: For all national banks and Federal savings associations (collectively, banks), in connection with the nationwide list of banks that are scheduled for CRA evaluation in a…

CRA COVID FAQ 1: COVID-19 Designated Disaster Areas

Question 1 Are COVID-19 affected states and jurisdictions considered CRA designated disaster areas? Response 1 The agencies believe that the Coronavirus Disease (COVID-19) national emergency raises unique needs for revitalization and stabilization activities that differ from those typically undertaken in response to natural disasters or other emergencies. The Federal Emergency Management Agency (FEMA) has issued…

CRA COVID FAQ 2: Length of Consideration for Responsive Activities

Question 2 How long will the agencies grant consideration for activities that revitalize or stabilize COVID-19 designated disaster areas? Response 2 The March 19, 2020, Joint Statement(3) indicates that it is effective through the six-month period after the national emergency declaration is lifted, unless extended by the agencies. With specific reference to COVID-19 related revitalization and…

CRA COVID FAQ 3: Consideration of Responsive Activities in CRA Examinations

Question 3 How will activities undertaken in response to COVID-19 that are responsive to community needs be considered in CRA examinations? Response 3 In light of the declaration of a national emergency, and consistent with the Joint Statement, the agencies are clarifying that banks will receive favorable CRA consideration for community development activities that are…

CRA COVID FAQ 4: Consideration of Responsive Activities on a Nationwide Basis

Question 4 Can a bank receive consideration for activities related to the COVID-19 emergency and that are conducted on a nationwide basis? Response 4 The COVID-19 emergency has had a significant health and economic impact that extends beyond many banks’ assessment areas. Banks that are responsive to community development needs and opportunities in their assessment…

CRA COVID FAQ 5: CRA Eligibility of Paycheck Protection Program (PPP) Loans

Question 5 Are bank loans made under the Paycheck Protection Program (PPP) eligible for CRA consideration? For PPP loans that are eligible community development loans, what is the appropriate community development purpose? Response 5 Generally, loans, including PPP loans, in amounts of $1 million or less to for-profit businesses, or to nonprofit organizations that are…