GDV News

New CRA Rule: Where are your deposits? Here's how to find out

As you should know, the OCC has approved a final CRA rule and the FRB has proposed a CRA rule that would create "deposit-based" CRA assessment areas. No one, not even the regulators, knows how deposits are geographically dispersed by the location of the depositor. That's why the NPR announced by the OCC on November 25, will require banks to collect and report that information next year.

Because of the importance of deposit location information, GeoDataVision is making a special offer to the first 100 banks who accept our offer no later than December 31, 2020.

OCC issues draft CRA Notice of Proposed Rule-Making to clarify 2020 Rule and adds a shocking potential rating downgrade on first exam under the new rule

Dear Banker,

On Wednesday, November 25, The Office of the Comptroller of the Currency issued a draft Notice of Proposed Rule Making regarding the new CRA Rule. In the NPR the Agency explains the data it will ask banks to report that will help the Agency formulate the benchmarks, thresholds, and minimums to be applied under the new CRA rule and that will correspond to the "presumptive ratings".

Webinar regarding the proposed CRA changes

Dear banker,

The FDIC and the OCC have published a Notice of Proposed Rule-Making for the Community Reinvestment Act ("CRA"). The NPR contains radical changes that dramatically affect the CRA responsibilities of every bank. You need to know what the proposed changes are and you should contact the FDIC and/or the OCC about them before it is too late!

The proposed changes are dramatic and will affect all banks in big ways.