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.