The chance to significantly overhaul banking regulations comes around perhaps once in a generation — or maybe twice. On May 11, 2022 the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency released a proposed set of overhauled regulations under the Community Reinvestment Act, the 1977 law intended as a countermeasure against discriminatory lending (AKA redlining). The comment period ends August 5, 2022.
What potential impacts are likely for YOUR bank, based on your size of being evaluated as a small, intermediate or large bank?
What You’ll Learn
- Review of key elements of the proposed rule and comparisons to the current regulations
- A recap of the May 5, 2022 Interagency Webinar on the CRA proposal
- Potential use of the Section 1071 proposed rules for minority and women-owned small business loans
There are eight performance tests that have potential implications for your bank’s CRA strategy, they include:
- The Retail Lending Test for large and intermediate banks. The test also includes screens and metrics.
- The Retail Services and Products Test for large and intermediate banks.
- The Community Development Financing Test for large and intermediate banks. The test includes metrics and benchmarks.
- The Community Development Services Test for large banks. The test includes metrics.
- The Community Development Financing Test for Wholesale or Limited Purpose Banks.
- The small bank performance standards.
- The intermediate bank community development performance standards.
- Standards in a strategic plan
Who Should Attend
This program will benefit lenders, compliance officers, CRA officers, lending support staff, legal counsel, auditors, and those involved in acquisitions and merger activities.