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Azure GPT-4 Analysis of the New CRA: Part 3

A.i., Chat With Ai, Artificial Intelligence. Man Using A Smartphone Chatting With An Intelligent Artificial Intelligence Asks For The Answers He Wants. By Enter Command Prompt For Generates,

The following information was generated by utilizing the Azure GPT-4-32k variant, which is part of the Azure OpenAI Service. Comparable to the publicly accessible ChatGPT, Azure GPT-4 offers equivalent accuracy in solving problems.  

 The advantages of using Azure GPT-4-32k includes: 

  • Context Size: Available in 128K context and 32K context variants. 
  • Larger context size, better suited for detailed discussions. 
  • Cost: More cost-effective in terms of input and output pricing. 
  • Ideal for complex conversations, long-form content, and tasks requiring extensive context. 

 The AI tool was created by Perficient’s Generative AI Innovation Group which aims to drive innovation, connection and community to Perficient’s clients, colleagues, partners and investors while having a strong focus toward the emergence of generative AI tools and capabilities, and the impact these technologies have in businesses today.  

 The AI Innovation Group is developing proofs of concept (POCs) to help clients explore use cases for generative AI and operationalize it through policies, advocacy, controls and enablement. The team set up a sandbox for Perficient’s Finance Services Center of Excellence (FS CoE), allowing them to analyze the newly revised, 1,300-page Community Reinvestment Act, published by federal bank regulators, in mere seconds.  

 In our last 2 blogs, we asked the Azure GPT software tool to generate a 1,000-word and a 1,500 blog on the CRA. This time we thought, to provide both another comparison and even more depth and detail to the new CRA, we asked:  

  • “Generate a 1,999 word blog on the CRA” 


Azure GPT-4 Analysis of the New CRA: Part 1 

Azure GPT-4 Analysis of the New CRA: Part 2

 The Community Reinvestment Act (CRA) is a crucial piece of legislation that has shaped the landscape of banking and community development since its introduction in 1977. It mandates federal banking agencies to evaluate how well each bank meets the credit needs of its community, particularly in low- and moderate-income neighborhoods, while maintaining safe and sound operations. This blog post will delve into aspects of the CRA, including its public file requirements, evaluation methods, and recent updates. 

Public File Requirements 

One significant part of the CRA is its public file requirements. Banks are required to include written comments in their CRA public files that pertain to their Retail Lending Test conclusions. These comments, whether submitted directly to a bank or to an agency, are available both for a bank’s consideration and for public review. 

The intention behind this requirement is to create a transparent evaluation process and limit the potential effect of social media posts and other potentially spurious claims. It’s worth noting that it may often not be feasible or appropriate to consider social media posts as part of a bank’s performance context due to challenges in determining whether such remarks are relevant or appropriate for agencies to consider during a CRA evaluation. 

Access to Information 

As part of the CRA, the public is entitled to certain information about a bank’s operations and performance. This includes information about the bank’s branches, such as their location and services, the public section of their most recent CRA Performance Evaluation, and comments received from the public regarding the bank’s performance in meeting community credit needs. 

Before the beginning of each quarter, the Federal Reserve System publishes a list of banks scheduled for CRA examination in that quarter. This list not only prepares the banks for the examination but also allows the public to review and provide meaningful comments on a bank’s performance. 

Performance Evaluation 

The CRA’s performance evaluation process involves an assessment of a bank’s record in meeting the credit needs of its community, including low- and moderate-income neighborhoods. This evaluation is written and accounts for any comments submitted by the public that relate to the bank’s performance. 

Furthermore, the CRA also includes a quantitative evaluation of the geographic distribution of retail lending in distressed and underserved middle-income census tracts for banks with few or no low- and moderate-income census tracts. 

CRA Disclosure Statement 

Each year, the appropriate Federal banking agency prepares a CRA Disclosure Statement for each bank or savings association. This statement includes data on a state-by-state basis, and for each county or assessment area with a population of 500,000 persons or fewer, information about the number and amount of small business and small farm loans reported as originated or purchased in low-, moderate-, middle-, and upper-income geographies. 

Recent Updates and Developments 

The CRA has undergone several updates and developments to keep it in line with the evolving banking landscape. For instance, the final rule, effective from October 1, 2020, with compliance dates for certain provisions set for January 1, 2023, and January 1, 2024, aims to modernize the CRA regulations. 

The Board issued a CRA Advance Notice of Proposed Rulemaking on September 21, 2020, seeking public comment on modernizing the CRA regulations. The proposal aims to strengthen, clarify, and tailor the regulations to better meet the core purpose of the CRA and reflect the current banking landscape. 

Additionally, the agencies proposed changes to make a bank’s CRA public file more accessible to the public by allowing any bank with a public website to include its CRA public file on its website. They also proposed publishing a list of banks scheduled for CRA examinations for the next two quarters at least 60 days in advance and establishing a way for the public to provide feedback on community needs and opportunities in specific geographies. 


The CRA plays a vital role in ensuring that banks adequately serve the credit needs of their communities, particularly low- and moderate-income neighborhoods. Through its public file requirements, performance evaluations, and the provision of information to the public, the CRA fosters transparency, promotes fair lending, and encourages banks to contribute positively to their communities. The recent updates and developments not only reflect the changing banking landscape but also reinforce the CRA’s commitment to enhancing banking services to all communities.   

Your Expert Partner 

Contact us to discuss your specific risk and regulatory challenges.  

Our financial services expertise and artificial intelligence experience blended with our digital leadership across platforms, equips the largest organizations to solve complex challenges and compliantly drive growth. 

This blog was co-authored by: Andrea MilanoNoelle ReinholdAbdulKadir SheikhLalit DiwateAkshay SuryawanshiAkshay AdmaneRaj Merchant, and Ashish Chakole

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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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