0000007170 00000 n A bank shall delineate one or more assessment areas within which the OCC evaluates the bank's record of helping to meet the credit needs of its community. "*%q6 MbE:)4;{0?c~r8_z`q Ycwu OZ,gE0]U> The bank shall maintain data separately for each category, including for each loan: (i) A unique number or alpha-numeric symbol that can be used to identify the relevant loan file; (ii) The loan amount at origination or purchase; (iv) The gross annual income of the borrower that the bank considered in making its credit decision. hTmO0+8*eH+ $/4#1mS)dI! Ultimately, the potential for errors is large, and data integrity issues will persist unless bank management gives proper attention to the problem and takes corrective action. (iv) The number and amount of small business and small farm loans to businesses and farms with gross annual revenues of $1 million or less; (2) For each county (and for each assessment area smaller than a county) with a population in excess of 500,000 persons in which the bank reported a small business or small farm loan: (i) The number and amount of small business and small farm loans reported as originated or purchased located in geographies with median income relative to the area median income of less than 10 percent, 10 or more but less than 20 percent, 20 or more but less than 30 percent, 30 or more but less than 40 percent, 40 or more but less than 50 percent, 50 or more but less than 60 percent, 60 or more but less than 70 percent, 70 or more but less than 80 percent, 80 or more but less than 90 percent, 90 or more but less than 100 percent, 100 or more but less than 110 percent, 110 or more but less than 120 percent, and 120 percent or more; (ii) A list grouping each geography in the county or assessment area according to whether the median income in the geography relative to the area median income is less than 10 percent, 10 or more but less than 20 percent, 20 or more but less than 30 percent, 30 or more but less than 40 percent, 40 or more but less than 50 percent, 50 or more but less than 60 percent, 60 or more but less than 70 percent, 70 or more but less than 80 percent, 80 or more but less than 90 percent, 90 or more but less than 100 percent, 100 or more but less than 110 percent, 110 or more but less than 120 percent, and 120 percent or more; (3) The number and amount of small business and small farm loans located inside each assessment area reported by the bank and the number and amount of small business and small farm loans located outside the assessment area(s) reported by the bank; and. You can order both guides together for just $800 per year. In fact, some institutions have spent upwards of a million dollars cleaning up their HMDA data.

ir xb```b``e`e`` @160 0000027839 00000 n H\0~ %PDF-1.6 % (2) Other loan data. Only a branch of a bank having more than one assessment area shall include the bracketed material in the notice for branch offices. O5}x>C/&xj5,%WY

0000003114 00000 n Your bank must place the copy in its public files within 30 business days after receiving it. The accuracy of a CRA performance evaluation or Fair Lending analysis is totally dependent on the reliability of the underlying data. Reporting the renewal of a small-business loan as an origination. A bank, except a small bank or a bank that was a small bank during the prior calendar year, shall collect and report to the OCC by March 1 of each year a list for each assessment area showing the geographies within the area. 0000005731 00000 n A bank, except a small bank or a bank that was a small bank during the prior calendar year, shall report annually by March 1 to the OCC in machine readable form (as prescribed by the OCC) the following data for the prior calendar year: (1) Small business and small farm loan data. Notwithstanding the requirements of this section, a bank whose business predominantly consists of serving the needs of military personnel or their dependents who are not located within a defined geographic area may delineate its entire deposit customer base as its assessment area. Once an institution has this information available, it should assign census tracts or block numbering areas to the location (geocode) and report it. (b) Additional information available to the public(1) Banks other than small banks. Credibility with examiners, as well as community groups that may analyze the data, could be compromised if inaccuracies occur. 0000001635 00000 n 0000003656 00000 n 0000018001 00000 n The bank shall place this copy in the public file within 30 business days after its receipt from the OCC; (3) A list of the bank's branches, their street addresses, and geographies; (4) A list of branches opened or closed by the bank during the current year and each of the prior two calendar years, their street addresses, and geographies; (5) A list of services (including hours of operation, available loan and deposit products, and transaction fees) generally offered at the bank's branches and descriptions of material differences in the availability or cost of services at particular branches, if any. (a) Information available to the public. Conversations with experts on their research and topics in the news, Podcast featuring economists and others making their marks in the field, Economic history from our digital library, Scholarly research on monetary policy, macroeconomics, and more. This means you have a guide that has been prepared professionally and is automatically updated as changes occur. The OCC uses the assessment area(s) delineated by a bank in its evaluation of the bank's CRA performance unless the OCC determines that the assessment area(s) do not comply with the requirements of this section. The institution should then report "the borrower's state, county, MSA, if applicable, and 'NA,' for 'not available,' in lieu of a census tract or block numbering area code." Consequently they are concerned about the "CRA process" and the "HMDA process" (the systems and procedures established to collect, enter, monitor and report CRA and HMDA data) at your bank. In reviewing a bank's performance under the CRA regulation, the examiners primary tool is the data reported on the loan application register for HMDA and the loan register for CRA. (3) Home mortgage loans. (g) Use of assessment area(s). 0000030314 00000 n A bank that elects to have the OCC consider community development loans by a consortium or third party, for purposes of the lending or community development tests or an approved strategic plan, shall report for those loans the data that the bank would have reported under paragraph (b)(2) of this section had the loans been originated or purchased by the bank. GeoDataVision has developed guides for the records reported under each regulation and offers the guides as a subscription to community banks. The Atlanta Fed is an equal opportunity employer. (5) Banks with less than satisfactory ratings. (e) Data on lending by a consortium or a third party. 60 FR 22184, May 4, 1995, unless otherwise noted. Upon request, a bank shall provide copies, either on paper or in another form acceptable to the person making the request, of the information in its public file. Each bank's assessment area(s): (1) Must consist only of whole geographies; (2) May not reflect illegal discrimination; (3) May not arbitrarily exclude low- or moderate-income geographies, taking into account the bank's size and financial condition; and. Large banks are facing a new but familiar challengeensuring clean and accurate data reportingas they adjust to revisions in the Community Reinvestment Act (CRA), which includes the collection of small business and small farm data. (4) The number and amount of community development loans reported as originated or purchased. 0000006920 00000 n Human error, especially keystroking mistakes. Test the integrity of the data. A bank required to report home mortgage loan data pursuant part 1003 of this title shall include in its public file a written notice that the institution's HMDA Disclosure Statement may be obtained on the Consumer Financial Protection Bureau's (Bureau's) Web site at www.consumerfinance.gov/hmda. %%EOF In the case of HMDA data it can lead to civil and monetary penalties. Assign employees with good knowledge of HMDA and CRA regulations to pull samples from your current loan register and match the data in the actual loan file to the data collected during the application process. Bridges is a regular review of regional community and economic development issues. (4) May not extend substantially beyond an MSA boundary or beyond a state boundary unless the assessment area is located in a multistate MSA. 0000030588 00000 n (iv) To businesses and farms with gross annual revenues of $1 million or less (using the revenues that the bank considered in making its credit decision); (2) Community development loan data.

A map of the bank's assessment area showing its boundaries and identifying the various geographic areas within it, either on the map or in a separate list. 3. xref 0000001502 00000 n This list must note any significant differences in services at particular branches. Borrowers' addresses in rural areas frequently consist of only rural route numbers or post office boxes. Prefer speaking with a human to filling out a form? (3) Small banks. 0000004831 00000 n '~iY ,|a6J#3&5giu)H7XS0/0[`P\GkiCl(00EmxM/.y Examiners will develop a sample of your data to test it for reliability and this testing can lead to questions about your data that can prolong your exam and force you to refile data in some circumstances. 85 0 obj <>stream ! o CRA regulations say, "The institution should record the loan by either the location of the business headquarters or the location where the greatest portion of the proceeds are applied, as indicated by the borrower." (i) Aggregate disclosure statements. (d) Adjustments to geographic area(s). <<1897CF794E0E0E4E829A23AD6D46F015>]>> However, the new CRA Q&As state that "prudent banking practices dictate that an institution know the location of its customers or loan collateral. endstream endobj 55 0 obj <>/Metadata 52 0 R/AcroForm 56 0 R/Pages 48 0 R/Type/Catalog/PageLabels 46 0 R>> endobj 56 0 obj <>/Encoding<>>>>> endobj 57 0 obj <>/ColorSpace<>/Font<>/ProcSet[/PDF/Text/ImageB]/ExtGState<>>>/Type/Page>> endobj 58 0 obj <> endobj 59 0 obj [/ICCBased 74 0 R] endobj 60 0 obj <> endobj 61 0 obj <> endobj 62 0 obj <>stream 0000005648 00000 n All other community development questions, Receive updates in your inbox as soon as new content is published on our website.