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#2269834 - 04/29/22 05:20 PM new 2022 census tracts and their income class
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
On April 28 the FFIEC released the new Census 2020 tracts with their respective income classes to be implemented as of the beginning of 2022.

This means every bank must update its public file to include maps with the new tracts and their income classifications.

For banks that include counties in their entirety, the development of new AA maps should be straightforward. However, for banks that delineate their AAs to include parts of counties, it is a little more challenging because not only was there an enormous increase in tracts (looks like more than 10,000 new tracts have been created, from about 74,000 tracts to more than 85,000 tracts!), all tract boundaries were subject to change.

When we mapped our clients' AAs 10 years ago we found the only way to address this issue was to conduct online dynamic mapping sessions during which bankers can see the new census tract configurations and how they may overlap their current AA boundaries.

Given the enormous changes in the tracts every bank should review the changes in and around their Assessment Areas. For sure, many LMI tracts and majority-minority tracts will change significantly.

We are already entering the 5th month of the year and these tracts affect the entire year (right from the very beginning), so everyone responsibile for CRA and Fair Lending should make updating their tracts a very high-level priority.
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#2269836 - 04/29/22 05:42 PM Re: new 2022 census tracts and their income class Len S
CloudShape Offline
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Edge of Sanity
Interesting. I was just on the FFIEC.gov website and the new information is not there. Still only shows 2021 as the latest year.
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#2269849 - 04/29/22 07:08 PM Re: new 2022 census tracts and their income class Len S
COMPL101TX Offline
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If you are referring to the geocoding website then you are right, 2022 data is not populating yet, but the data is available for download. https://www.ffiec.gov/censusapp.htm

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#2269864 - 04/29/22 08:40 PM Re: new 2022 census tracts and their income class Len S
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
One of the difficulties with the new data is there are more than 10,000 new census tracts, plus many of the old tracts had their boundaries changed (so their shape and size are different), plus many tracts changed income class and/or minority status changed. If you don't have the ability to map the tracts understanding and analyzing the changes and their effects will be very difficult.

For example, there were 16,801 census tracts designated as moderate-income during 2021. Now, in 2022 that number changes to 19,190 moderate-income tracts. The number of "NA" income tracts increased from 1,319 to 2,358 census tracts. At the same time, low-income tracts decreased from 5,959 to 5,602 tracts.

How dramatically a bank is affected by the changes depends on the location of a bank's assessment area. Each bank will be affected differently depending on the configuration of its assessment areas.
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#2269906 - 05/02/22 04:19 PM Re: new 2022 census tracts and their income class Len S
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
We have been looking at Assessment Area maps for our clients and have noticed the impact of the new 2022 tracts can vary quite a bit from bank to bank. Because there are so many new tracts many banks will find that their AA's may include more tracts, not because the bank expanded the AA, but simply because old tracts were split in two while other tracts were partly combined, etc. Many tracts also have had their income class changed too.

In some cases, the changes may merit a review of your AA delineation to make sure there are no new LMI or MM tracts on the border of your AA that create the appearance of redlining. This is an exercise that demands more attention than merely producing a new AA map.
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#2274008 - 08/10/22 08:30 PM Re: new 2022 census tracts and their income class Len S
tedster Offline
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Philadelphia
The 80% increase in NA tracts tells me something is off. Is there any indication of why this occurred, or if the FFIEC will revise this?
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#2274012 - 08/10/22 10:17 PM Re: new 2022 census tracts and their income class tedster
Rocky P Online
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A lot more prisons or interchanges?
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#2274634 - 08/24/22 03:01 PM Re: new 2022 census tracts and their income class Len S
Auditgal Online
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When on the FFIEC Geocode mapping page, the year "2022" is for the 2020 census information? I remember a few years ago locating somewhere in CRA information how often a bank needed to update its tract changes. I was thinking it said with each new census, but I have tried to find where I saw that and I can't. So any help pointing me to that would be great.

Also, it sounds like the census information was updated in 2020 and thus changed many census tract numbers and that information is now available so our public files definitely need to be updated now, correct?

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#2274655 - 08/24/22 05:53 PM Re: new 2022 census tracts and their income class Len S
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
My company, GeoDataVision, offers free online interactive 2022 census tract maps which you can use to pan around anywhere in the country and even to geocode loans. It's based on the database released by the FFIEC at the end of March 2022 and can be found at Free Online Interactive 2022 Census Tracts with Income Class map.

Census tract identities and geometries are subject to change every decennial census. However, tract income class also is subject to change when the 5-Year ACS is implemented in years ending in 2 and 7. Finally, tract income class can change whenever the OMB changes MSA's which can happen during any year. So you need to keep your eyes open to make sure you have the most recent tract identities and income classifications.
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#2274744 - 08/25/22 07:27 PM Re: new 2022 census tracts and their income class Len S
BB Offline
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Joined: Jun 2018
Posts: 28
This is convenient but I tried this map on a couple addresses and they weren't very accurate pin pointing the location therefore put it in a different income category.

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#2274749 - 08/25/22 07:53 PM Re: new 2022 census tracts and their income class Len S
Len S Offline
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Joined: Oct 2004
Posts: 2,084
Connecticut
Well, when we tested addresses the map always located the address and matched the FFIEC geocoding result. What are you using for your reference point? Geocoding gets more tenuous in rural areas. There are also different levels of "precision" when geocoding. Sometimes even the FFIEC site has inaccuracies or records that can't be located. If you want to send me the addresses you used I could check them out. The geocoding engine we are using was updated as of the beginning of 2022. I would definitely be curious about your results.
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