Do you ever feel hesitant to engage with organizations in your community because you are unsure if the activity will qualify for CRA? You are not alone. Inconsistencies among the agencies as to what qualifies as CRA eligible activity can cause confusion and make discerning worthwhile partnerships from not-so-worthwhile partnerships that much more difficult. In […]
What are MDI’s and the benefits of partnering with one? Read More »
As financial institutions face increasing pressure to demonstrate their commitment for economic stability in underserved areas and populations, the responsibility of the Board of Directors under the Community Reinvestment Act (CRA) has never been more critical in shaping strategies that serve both community and business interests. TCA – A Better Way!
CRA In the Boardroom Read More »
With the hiring of Sara Kirkpatrick,TCA Compliance is enhancing the consulting it provides to banks on CRA compliance topics. TCA Compliance is a full-service company that provides A Better Way for banks to manage their compliance obligations. Kirkpatrick brings firsthand knowledge of first-time homebuyers and CRA programs. She initially anticipated working at a non-profit or
TCA Compliance Welcomes Sara Kirkpatrick, Enhances its CRA Expertise Read More »
Examiners are more carefully scrutinizing banks’ lending penetration in low- and moderate-income census tracts for CRA and in substantially minority census tracts for Fair Lending in banks’ designated assessment areas. Examiners also expect banks to demonstrate a thorough understanding of their lending patterns. For example, they analyze HMDA loan data and Small Business/Small Farm loan
Mitigate Risk: Understand Your Lending Patterns Read More »
Fair Lending remains a hot topic with regulators and special interest groups. During 2023, our clients experienced heightened scrutiny around identifying patterns of disparity that could result in discrimination allegations and enforcement actions. Review the five key issues clients have faced and consider evaluating them at your institution. TCA – A Better Way!
Stay on the Right Side of Fair Lending: 2023’s Top 5 FAQs Read More »
April brings many special events – baseball’s home opener, spring showers to bring May flowers, and let’s not forget the CRA Public File update. Section 43(e) of your bank’s CRA regulation states the Public File should be current as of April 1st each year. To help you, we’ve included some handy information to ensure your
April 1st is Fast Approaching: Did You Update Your CRA Public File? Read More »
The annual CRA asset-size thresholds for covered financial institutions were announced December 19, 2022 by the FDIC and FRB and on December 28 by the OCC applicable for 2023. The cutoff adjustments are based on the change in the CPI (Consumer Price Index) for each 12-month period ending in November, rounded to the nearest million.
CRA Asset-size Thresholds Announced for 2023 Read More »
On December 21, 2021, the FFIEC released the public disclosures for CRA data submitted for calendar year 2020. Note: If your institution does not report CRA small business, small farm or community development lending data, then this Special Release would not apply to you. Even if your institution is not a CRA reporter, a review
FFIEC Releases 2020 CRA Public Data Tables Read More »
The OCC issued News Release 2021-133 on December 14, 2021, announcing the final rescinding of their June 2020 Community Reinvestment Act (CRA) Rule. The Final Rule will become effective as of January 1, 2022 and will apply to all national banks as well as to both federal and state savings associations. Financial institutions regulated by
Everything Old is New Again- OCC Rescinds CRA Rules Read More »
Answer: Yes. A new CFPB initiative has been developed known as PAVE – Property Appraisal and Valuation Equity. It is an Interagency Task Force to address inequity in home appraisals. Examiners will be looking to see how financial institutions ensure there is no appraisal bias in minority neighborhoods or minority homes by monitoring the financial
We’re here to review your current compliance strategy and help you find A Better Way to manage risk.
