When an online deposit account request is declined, is the denial notice provided required to be dated?
We heard that some banks would be required to submit strategic plans under the revised rule. Is this true?
Our bank is an Intermediate Small Bank under the current CRA rule, with an asset size of $750 million. Will we still be treated differently from large banks under the proposed rule?
Our bank has several assessment areas that include partial counties. The counties are large and the bank does not feel it can serve the entire county. Will we be able to continue with this practice under the proposed CRA rule?
Are there any regulations or guidelines for reducing the hours a branch can stay open?
A question has come up in regard to public comments left on the bank's Facebook page. Would Facebook comments that relate to the bank's performance in helping meet community credit needs rise to the level of placing these in the bank's Public File?
I am trying to obtain a good definition and/or guidance on how to report Revolving Lines of Credit that have been extended and not renewed for a particular year. Example – A customer has a revolving line of credit for $250,000 that originally was executed in November 2014 and is up for renewal in November 2015, however the borrower has asked for a 3-month extension which the bank granted, the amount and conditions are unchanged.
For 2015 reporting, can we/should we be reporting/treating the $250,000 as a renewal/extension that took place in 2015? Or not report it as it was an extension and not a renewal according to the CRA quidelines?
What type of rating system does a regulatory agency use to assign a CRA rating?
Can the bank adjust an assessment area once it has been set?
The CRA regulation states, "generally, an institution is to rely on the revenues that it considered in making its credit decision." It also states, "The regulation does not require institutions to request or consider revenue information when making a loan; however, if institutions do gather this information from their borrowers, the agencies expect them to collect and rely upon the borrowers' gross revenue for purposes of CRA."
Does one of these trump the other? We use personal income for the credit decision and rarely use gross revenues of the business. Our auditors think the "credit decision" amounts outweigh using what we have in the file. If we only used the credit decision amounts, we wouldn't have many loans to report.