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This document evaluates the performance of Community First National Bank in compliance with the Community Reinvestment Act, assessing its lending, investment, and service performance in various metropolitan
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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 and data on the institution's lending, investment, and service activities.
02
Review the updated guidelines and requirements for the Community Reinvestment Act (CRA) Performance Evaluation.
03
Complete the CRA Performance Evaluation Form, ensuring to address all sections thoroughly.
04
Provide detailed information on the geographic distribution of loans, including maps and demographic information.
05
Include a summary of community development activities, such as investments in affordable housing and economic development initiatives.
06
Submit the evaluation to the appropriate regulatory agency, ensuring all deadlines are met.
Who needs Community Reinvestment Act Performance Evaluation?
01
Banks and other financial institutions that have a charter and are subject to CRA regulations.
02
Regulatory agencies that oversee compliance with the Community Reinvestment Act.
03
Community organizations that advocate for fair access to credit and banking services for low- and moderate-income individuals and neighborhoods.
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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 Performance Evaluation is an assessment conducted by federal regulatory agencies to evaluate a financial institution's record of meeting the credit needs of the communities in which it operates, particularly low- and moderate-income neighborhoods.
Who is required to file Community Reinvestment Act Performance Evaluation?
Banks and other financial institutions with assets above a certain threshold are required to undergo Community Reinvestment Act Performance Evaluations, including national banks, state-chartered banks, and savings associations.
How to fill out Community Reinvestment Act Performance Evaluation?
Filling out the Community Reinvestment Act Performance Evaluation involves providing detailed information about the institution's lending, investment, and service activities to low- and moderate-income areas, along with supporting documentation and data as required by the regulatory agencies.
What is the purpose of Community Reinvestment Act Performance Evaluation?
The purpose of the Community Reinvestment Act Performance Evaluation is to ensure that financial institutions are fulfilling their obligations to serve the credit needs of all community members, prevent redlining, and support economic development in underserved areas.
What information must be reported on Community Reinvestment Act Performance Evaluation?
The information reported on the Community Reinvestment Act Performance Evaluation includes data on lending practices, investment activities, and service delivery to low- and moderate-income communities, as well as metrics that evaluate the bank's performance in meeting community needs.
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