FDIC releases October CRA evaluations

Bank Regulatory CRA FDIC Compliance

On October 3, the FDIC released an updated list of state nonmember banks examined for compliance under the CRA. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires public disclosure of evaluations and ratings for banks undergoing CRA examinations. These ratings assess how well banks meet the credit needs of their communities, including low- and moderate-income neighborhoods, while maintaining safe and sound operations. The FDIC’s recent evaluations included 55 banks, which received ratings in July 2024. Three banks were rated as “Needs to Improve” while the remaining institutions received a “Satisfactory” or “Outstanding” rating.