Financial Services

OCC Releases Latest CRA Evaluations for March 2022

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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

The full list released this month by the OCC is included in the table below:

 

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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.

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Carl Aridas

Carl is certified in the Scaled Agile Framework (SAFe), a Scrum Master, and a Six Sigma Green Belt project manager with more than 25 years of experience in financial services overseeing large-scale development global, multi-currency accounting, regulatory reporting, and financial reporting software platforms. He has hands-on experience completing, reviewing, and filing Federal Reserve, FFIEC, and IRS reports, including Call Reports, Y9C reports, 2900 reports, TIC reports, and arbitrage rebate reports.

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