CRA Exams & Performance Analysis Webinar
Attend this FREE webinar featuring industry expert and President of GeoDataVision, Len Suzio. This online seminar will focus on CRA data collection and how to analyze the data to gain the maximum benefit for your institution. This includes information on how to turn your CRA "Cost Center" into a CRA "Profit Center". .
Find out more and register Posted on: 2/8/2007
Rhode Island Home Loan Protection Act
The Rhode Island Department of Business and Regulation recently issued a notice extending the effective date for a few specific provisions of the Act. The Act became effective December 31, 2006. Specifically, lenders were challenged with Section 7 which addresses the disclosure requirement which caused some lenders to halt business activity due to the ambiguity of the provision as well as a rapidly approaching deadline in which to program systems, implement internal policies, coordinate with investors, etc.. The date for compliance with this, as well as a few other provisions, has been extended to March 1, 2007.
See the Department's Notice Posted on 2/8/2007
How Do Examiners Measure CRA Performance?
By Len Suzio, President, GeoDataVision
The first thing to understand about CRA is that it boils down to a very simple question: “How does my bank meet our community's need for credit services?” Whenever you measure your bank's CRA performance you should always keep this in mind. This question has 3 built-in assumptions: (1) you know what your community's credit needs are, (2) you have loan products to meet those needs and (3) you have ways to measure how you are meeting those needs. Let's briefly review the first of these topics...
Read More Posted on: 1/23/2007
Community Reinvestment Act News
The Federal Deposit Insurance Corporation (FDIC) has released a revised Compliance Examination Handbook. The version contains up-to-date guidance, as of June 2006, for examinations under the CRA. The focus of the handbook is "risk-focused compliance" during the examination process.
Get the Handbook Posted on 2/7/2007