The Office of the Comptroller of the Currency (OCC) has released 11 Community Reinvestment Act (CRA) performance evaluations. These evaluations are based upon on-site examinations performed by OCC-trained staff that are conducted every other year, and they assess an institution’s performance in helping to meet the specific credit needs of the communities they serve. This review process can take weeks for small banks and sometimes months for larger banks. At the end, a compliance rating of either “Outstanding,” “Satisfactory,” “Needs to Improve,” or “Substantial Noncompliance” is allotted.
Of the 11 CRA evaluations on the list made public by the OCC:
- Only one received an “Outstanding” rating
- Ten were rated as “Satisfactory”
- No institution was rated with either a “Needs to Improve” or “Substantial Noncompliance” rating
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The full list released this month by the OCC is included in the table below:
If your bank needs help improving their CRA evaluation, whether from the OCC or any other federal bank regulator, reach out to Perficient and put the expertise of our financial services team to work for you.