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Regulatory Developments CRA Exam Cycles Lengthened

Federal regulators are extending the length of time between Community Reinvestment Act examinations for small banks. However, regulators are warning that the extension does not affect the other types of compliance exams. Other examinations will likely follow current schedules, regulators say.

The Gramm-Leach-Bliley Act extended the CRA exam cycle for banks with less than $250 million in assets that had "satisfactory" ratings on their last exams to four years and on banks of that size with "outstanding" marks to five years. However, the law did not address other types of compliance exams. Regulators are saying they will continue to conduct examinations other than CRA every two to three years and where possible will coordinate the CRA exams with those other exams in years when CRA is considered.

HMDA Threshold Raised
The Federal Reserve Board of Governors has raised the exemption threshold for depository institutions required to report Home Mortgage Disclosure Act information. The new threshold is $30 million in assets - up from $29 million.

Under the revision, institutions that have $30 million or less in assets will not be required to collect HMDA data in 2000.

Copyright © 2000 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 10, No. 5, 5/00

First published on 05/01/2000

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