📋 Tender Overview
The Federal Deposit Insurance Corporation FDIC today issued the lists of institutions scheduled for a Community Reinvestment Act CRA examination during the first and second quarter 2020. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter.The Community Reinvestment Act is a 1977 law intended to encourage insured banks and thrifts to help meet the credit needs of the communities in which they are chartered to do business including low- and moderate-income neighborhoods consistent with safe and sound operations. CRA examinations allow federal regulators to assess an institutions record of helping to meet those needs.CRA examinations are scheduled based on an institutions asset size and CRA rating. Absent reasonable cause an institution with 250 million or less in assets and a CRA rating of Satisfactory can be subject to a CRA examination no more frequently than once every 48 months. Absent reasonable cause an institution with 250 million or less in assets and a CRA rating of Outstanding can be subject to a CRA examination no more frequently than once every 60 months.The schedules of institutions to be examined January 1 2020 through March 31 2020 and April 1 2020 through June 30 2020 are based on the best information now available and are subject to change. For example a regulated financial institution not otherwise scheduled for an examination may be examined in connection with the application for a deposit facility. Alternatively some institutions may require more time and resources than originally allotted thus delaying other scheduled examinations. If an institution is rescheduled for a different quarter that information will be included on a later list.Federal bank and thrift regulators encourage public comment on the institutions to be examined under the CRA. Comments about FDIC-supervised institutions should be directed to the institutions themselves or to the Deputy Regional Director of the appropriate FDIC regional office attached. All public comments received prior to completion of a CRA examination will be considered.
