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Welcome to Compliance 911, a no-nonsense, cut to the point, style show for today’s busy bank and credit union compliance professionals. With this series of bi-weekly shows our goal is to boil down some of today’s hottest regulatory compliance topics in quick and easy to digest 5-10 minute episodes so you can get the information you want and get on with your day. We’ll be discussing topics like CRA, HMDA, Fair Lending, Anti Money Laundering, and so much more. Don’t forget to subscribe and tell a friend about us! Follow M&M Consulting and GeoDataVision us on LinkedIn to get the latest updates.
Episodes
Nov 8, 2023
Nov 8, 2023
10 min
On a broadcast hosted by Dean Stockford, Len Suzio highlights the increase in adverse Community Reinvestment Act (CRA) ratings for banks in the first half of 2023. An article from Standard & Poor indicated that 12 banks received less than satisfactory performance ratings, a jump compared to 14 for the entirety of 2022. Len believes that this rise can be attributed to regulators enforcing stricter performance standards. Evidence for this includes the proposed new CRA Rule, which intends to set higher CRA performance standards. An analysis by bank regulators shows that the new rule would result in a significant increase in the CRA exam failure rate. Len emphasizes that the vagueness in the currently applied performance standards would allow regulators to implement the proposed calibrated standards without officially announcing them. Another notable factor impacting these ratings is the Fair Lending issue and the anti-redlining initiative. Len suggests that banks be aware of these changes and regularly self-evaluate their compliance with these standards.
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