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This document evaluates U.S. Trust Company's record of meeting the credit needs of its community, including low- and moderate-income neighborhoods, based on the Community Reinvestment Act (CRA). It
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How to fill out community reinvestment act performance
How to fill out Community Reinvestment Act Performance Evaluation
01
Gather necessary documentation about your bank's lending, investment, and service activities.
02
Review the Community Reinvestment Act (CRA) guidelines to ensure compliance.
03
Fill out the Performance Evaluation (PE) form, starting with the bank's identification details.
04
Provide a summary of the bank's CRA performance in terms of lending, including metrics like loan volume and demographics of borrowers.
05
Include information on investments made, such as community development projects and partnerships.
06
Detail the services offered by the bank, especially those targeting low- and moderate-income areas.
07
Attach supporting evidence, such as data reports and examples of community programs.
08
Review the filled form for accuracy and completeness before submission.
Who needs Community Reinvestment Act Performance Evaluation?
01
Banks and financial institutions required to comply with the Community Reinvestment Act.
02
Regulatory agencies that evaluate the performance of financial institutions under CRA regulations.
03
Community organizations and advocacy groups that monitor and assess the impact of banks' lending practices.
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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 a review conducted by regulatory agencies to assess how well a financial institution is meeting the credit needs of its community, particularly low- and moderate-income neighborhoods.
Who is required to file Community Reinvestment Act Performance Evaluation?
Banks and financial institutions that meet certain asset size thresholds, as well as those that are federally insured, are required to undergo a Community Reinvestment Act Performance Evaluation.
How to fill out Community Reinvestment Act Performance Evaluation?
Filling out a CRA Performance Evaluation typically involves collecting data on lending activities, community development investments, and service delivery, and submitting this information to the relevant regulatory agency as part of their examination process.
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 obligation to serve their communities and to promote the availability of credit to underserved populations.
What information must be reported on Community Reinvestment Act Performance Evaluation?
The information that must be reported includes lending data by various demographic categories, details of community development initiatives, and assessments of bank branches and services in low- and moderate-income areas.
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