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This document evaluates The Bank of Charlotte County's performance in meeting community credit needs as required by the Community Reinvestment Act, detailing loan distributions, compliance, and assessment
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How to fill out community reinvestment act performance
How to fill out Community Reinvestment Act Performance Evaluation
01
Obtain the Community Reinvestment Act Performance Evaluation form from the appropriate regulatory agency.
02
Review the instructions carefully to understand the different sections required.
03
Fill out the bank's identification information, including the name and address.
04
Provide data on the bank's lending, investment, and service performance in the community.
05
Include information on any public comments received regarding the bank's performance.
06
Ensure that all data is accurate and reflects the bank's activities over the evaluation period.
07
Review the completed form for any errors or omissions.
08
Submit the form to the designated regulatory agency before the deadline.
Who needs Community Reinvestment Act Performance Evaluation?
01
Banks and financial institutions that are evaluated under the Community Reinvestment Act.
02
Regulatory agencies responsible for enforcing the Community Reinvestment Act.
03
Community organizations and advocacy groups interested in banking practices.
04
Investors and stakeholders who want to understand a bank's community involvement.
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People Also Ask about
What are the 4 general ratings on the CRA evaluation?
The Overall CRA rating is established by weighting the institution's State CRA rating, providing an overall CRA rating. CRA ratings are assigned using a four-tiered rating system: Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance.
What are the three tests used in a CRA examination?
Streamlined procedures with an emphasis on lending were adopted for small institutions, while large banks are evaluated under a three-part lending, service and investment test. Wholesale and limited purpose banks are evaluated under a community development test.
What three tests are used to evaluate CRA performance?
This performance evaluation assesses the bank's CRA performance under the large retail bank Lending, Investment, and Service Tests.
What is included in a CRA performance evaluation?
The CRA performance evaluation (PE) generally includes a description of the institution and its assessment area(s); conclusions about the bank's performance in each of its assessment areas: its CRA rating(s); and the facts, data, and analyses supporting the bank's conclusions and rating(s).
What are the factors in evaluating an institution's CRA performance?
The bank's product offerings and business strategy. Institutional capacity and constraints. The bank's past performance and the performance of similarly situated lenders. The bank's public file and any written comments about the bank's CRA performance submitted to the bank or the FDIC.
What are the four rating categories used to report Community Reinvestment Act CRA examination results?
A2. RatingTotal points Outstanding 20 or over Satisfactory 11 through 19 Needs to Improve 5 through 10 Substantial Noncompliance 0 through 4
What are the 4 general ratings on the CRA evaluation?
The Overall CRA rating is established by weighting the institution's State CRA rating, providing an overall CRA rating. CRA ratings are assigned using a four-tiered rating system: Outstanding, Satisfactory, Needs to Improve, and Substantial Noncompliance.
What is included in a CRA performance evaluation?
The CRA performance evaluation (PE) generally includes a description of the institution and its assessment area(s); conclusions about the bank's performance in each of its assessment areas: its CRA rating(s); and the facts, data, and analyses supporting the bank's conclusions and rating(s).
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What is Community Reinvestment Act Performance Evaluation?
The Community Reinvestment Act (CRA) Performance Evaluation is an assessment conducted by regulatory agencies to evaluate a financial institution's efforts to meet the credit needs of its community, particularly in low- and moderate-income areas.
Who is required to file Community Reinvestment Act Performance Evaluation?
Financial institutions that are regulated by federal agencies, including banks and savings associations, are required to undergo a CRA Performance Evaluation.
How to fill out Community Reinvestment Act Performance Evaluation?
Filling out a CRA Performance Evaluation involves providing data on lending practices, community development activities, and service delivery within the institution's designated assessment area, along with any necessary narratives to explain activities.
What is the purpose of Community Reinvestment Act Performance Evaluation?
The purpose of the CRA Performance Evaluation is to ensure that financial institutions are fulfilling their obligations to lend responsibly and support the local communities in which they operate, thereby promoting fair access to credit.
What information must be reported on Community Reinvestment Act Performance Evaluation?
The information that must be reported includes the institution's lending performance, the composition of its loan portfolio, community development loans, investments, service delivery channels, and demographics of the areas being served.
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