OCC Releases Community Reinvestment Act Evaluations for 33 Financial Institutions

first_img Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Banks Community Reinvestment Act CRA Financial Institutions OCC 2015-08-05 Brian Honea in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago August 5, 2015 934 Views Home / Daily Dose / OCC Releases Community Reinvestment Act Evaluations for 33 Financial Institutions Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Related Articles The Office of the Comptroller of the Currency (OCC) on Wednesday released list of Community Reinvestment Act (CRA) performance evaluations for 33 financial institutions.The list released Wednesday includes evaluations that became public during the month of July 2015 and includes national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings, according to the OCC.Out of the 33 evaluations released Wednesday, six of the institutions received ratings of outstanding: First National Bank South of Alma, Georgia; First Newton National Bank of Newton, Iowa; Chinatown Federal Savings Bank of New York, New York; First FS & LA of Newark, Ohio; the Peoples National Bank of Checotah, Oklahoma; and First Federal of Northern Michigan of Alpena, Michigan. Twenty-five institutions received a rating of satisfactory for their CRA evaluations; and two institutions, Eastern Savings Bank FSB of Hunt Valley, Maryland, and First FS & LA of McMinnville, Oregon, received needs to improve ratings. None of the 33 received a substantial noncompliance rating.For a complete list of this month’s CRA evaluations, click here. A searchable list of all public CRA evaluations can be accessed through the OCC’s website by clicking here.The CRA was first enacted by Congress in 1977 and revised in both 1995 and 2005. The purpose of the CRA is to “encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations,” according to the U.S. Federal Reserve Board web site. About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago OCC Releases Community Reinvestment Act Evaluations for 33 Financial Institutions Tagged with: Banks Community Reinvestment Act CRA Financial Institutions OCCcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: DS News Webcast: Thursday 8/6/2015 Next: Fannie Mae’s Net Income Surges in Q2, But Still Lags Behind Last Year’s Pace The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribelast_img

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