Understanding New CRA Data Collection and Reporting Req

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Understanding New CRA Data Collection and Reporting Req

In late 2023, federal regulators finalized a rule that makes extensive amendments to the regulations that implement the Community Reinvestment Act (CRA). This includes novel, complex, and detailed data collection and reporting requirements for banks’ retail deposits and lending and community development financing. For the first time, banks will be examined in areas where they have no physical presence if they exceed specified lending volume in those areas (known as “retail lending assessment areas”) and will be subject to stricter, data-driven performance tests will make it more difficult to achieve satisfactory or outstanding CRA ratings. This session will review the proposed changes and offer tactics on how banks can begin preparing for the effective date of the new rules. Our expert will also provide some insights into how DFS may adjust its own, independent, CRA supervision and rules, considering the new federal rules.

When

3/27/2024 12:00 PM - 1:30 PM
Eastern Daylight Time

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