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#2895 - 07/13/01 01:40 PM
New Census Tracts
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100 Club
Joined: Jul 2001
Posts: 145
Minnesota
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The 2001 Census has changed many of the census tracts in our lending area. With regards to HMDA, will we have to redo all the census tracts already on our LAR for this year? If not, when would we begin to use the new census tract information?
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#2896 - 07/13/01 03:20 PM
Re: New Census Tracts
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Power Poster
Joined: Oct 2000
Posts: 5,991
Soaring over Georgia
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The new census tract information has not been released for use yet, that I'm aware of. The way it worked with the 1990 census was that information collection using the new census tract numbers didn't begin until the following Jan 1 after the numbers were released. There will be some publication in the Federal Register when the new numbers are officially to be used. I suspect there will be a few discussions on this and other compliance boards when that happens, so stay tuned. ------------------ Jim Bedsole, CRCM, CBA, CFSA Opinions expressed are my own, and do not necessarily reflect those of my employer.
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Jim Bedsole, CRCM, CBA, CFSA, CAFP My posts - my opinions
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#2897 - 07/13/01 03:51 PM
Re: New Census Tracts
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100 Club
Joined: Jun 2001
Posts: 246
San Francisco
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As I recall, the 1990 census tracts and use of the 1990 demographic data were implemented effective January, 1992. And as I also recall, the data was released very late in 1991 and it was a real scramble for the first few months of that year. Maybe more widespread use of the internet will make things easier this time around. Oh, the fun things we have to look forward to...
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The opinions expressed are mine and not those of my employer
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#2898 - 07/13/01 05:50 PM
Re: New Census Tracts
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10K Club
Joined: Oct 2000
Posts: 27,754
On the Net
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My memory is fading on me. I want to say that Delores Smith from the Fed mentioned this at the ABA Conference and said that the earliest it would be used in reporting was 2003. But I didn't get that tape and didn't take the notes. Anyone? In any case, I don't believe the regulators will want piecemeal changes. Nationwide that could be extremely difficult to keep up with and it also may depend on the changes software vendors can implement. Perhaps it could be adopted by the regulators state by state, but that remains to be seen. As of now, I haven't seen anything indicating that we would use the 2000 census for reporting under CRA or HMDA. Using new designations could clog up the works so to speak, if everyone isn't on the same sheet of music. Though I would also have to say that technically, using them would be correct if they are officially released. BB says "Geography means a census tract or a block numbering area delineated by the United States Bureau of the Census in the most recent decennial census.
------------------ Andy Zavoina Opinions stated are not necessarily that of my employer.
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#2899 - 07/13/01 08:51 PM
Re: New Census Tracts
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Power Poster
Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
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The new 2000 census tract boundaries and numbers have been released, however non of the census data needed for CRA/HMDA reporting has. In making assessment area maps, we see that there are changes in tract boundaries, but primarily its the tract numbers that have the biggest change. High growth areas like Las Vegas have major changes, while tract boundaries in most of the rural areas I have looked at are not changing at all. The conversion to 2000 tracts will depened on when the census bureau makes the necessary 2000 census data needed for CRA/HMDA purposes available. There is some speculation that it may be available in the fall, but even so its such a short conversion time that I suspect regulators will not require its use until 2003. In any event 1990 data will diffinately be used to complete the 2001 year. ------------------
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Compliance Analysis and Research - Software for your CRA/HMDA analysis needs
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#2900 - 07/24/01 01:21 PM
Re: New Census Tracts
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100 Club
Joined: Jul 2001
Posts: 145
Minnesota
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Thanks for your input. I received conflicting information from several sources, so I contacted the Kansas City FDIC. They contacted Washington for the answer. For 2001 continue to use the old census tracts, for 2002 HMDA use the new census tracts.
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#2901 - 07/26/01 12:51 PM
Re: New Census Tracts
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Member
Joined: Dec 2000
Posts: 55
Brookings, SD
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Our local MSA is being expanded and will now include our bank - making us a HMDA reporter for the first time. I assume that our first reporting year will conincide with the year banks are instructed to begin reporting under the redrawn census tracts discussed in the posts above. Would everyone agree? I remember from my examining days that the FRB in Kansas City would distributed changes to MSAs and CTs annually. It was very helpful. Unfortunately, I don't believe they do that anymore.
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Trent Sorbe
President
First Community Financial, Inc.
Brookings, SD
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#2902 - 07/27/01 04:14 AM
Re: New Census Tracts
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10K Club
Joined: Oct 2000
Posts: 27,754
On the Net
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Trent, that sounds logical, which is why I'd verify it with the Fed or your regulator. The year they initiate use of the new tracts, you would begin collecting information. You would then actually report it the following year. I suppose the other option is to move the bank back out of the redrawn MSA, though I doubt the bank would accomodate your needs in that. ------------------ Andy Zavoina Opinions stated are not necessarily that of my employer.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#2904 - 07/27/01 07:14 PM
Re: New Census Tracts
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Power Poster
Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
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John go to the census bureaus American Factfinder at factfinder.census.gov/servlet/AdvancedGeoSearchMapFrameServlet Keep clicking on the map to get down to the census tract lecvel. The 2000 boundries are shown. Or e-mail me and I will send you a map of the 1990 vs 2000 tract boundries for your area.
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Compliance Analysis and Research - Software for your CRA/HMDA analysis needs
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#2905 - 10/20/01 04:00 AM
Re: New Census Tracts
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10K Club
Joined: Oct 2000
Posts: 27,754
On the Net
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Rehashing an old thread, I received a letter today from the FFIEC stating, "For CRA and HMDA data reporting and analysis purposes, continue to use the 1990 Census tract and demographic information for 2001 and 2002 calendar year data. We anticipate that we will use the US Census Bureau's 2000 census data for the calendar year 2003 CRA and HMDA data." ------------------ Andy Zavoina Opinions stated are not necessarily that of my employer.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#2906 - 10/19/01 09:57 PM
Re: New Census Tracts
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Platinum Poster
Joined: May 2001
Posts: 712
Scottsdale, AZ. 85255
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Yes, Andy you are right. The FFIEC has a memo posted on their sight dated October 3, 2001 stating just what you said. Pat Field
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#2908 - 10/24/01 04:54 AM
Re: New Census Tracts
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Power Poster
Joined: Jul 2001
Posts: 3,708
Las Vegas Nevada
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CRA Wiz as well as most companies using geocoders including the FFIEC, use data provided by a company called Geographic Data Technology (GDT). This company is probably the primary source of current data used in geocoding products in the U.S. GDT notified its users that beginning Jan 1, 2001 that they will only provide geocoding using 2000 data. I started a dialogue with them in July indicating this will be a problem for government required CRA and HMDA purposes. I won't go into the details and politics of the problem in this forum, but one of their comments for doing this, was they did not get any feedback from banking clients that it would be a problem. I forwarded them a copy of the recent FFIEC memo and was told they would take it under consideration, but still no feedback from bank clients. Would some of you please indicate that it is a problem to the banking industry, by sending them an e-mail at support@gdt1.com You may not think you will be effected by this but I assure you it eventually will. Tele Atlas, formerly Etak, has indicated they would provide both 1990 and 2000 geocoding information
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Compliance Analysis and Research - Software for your CRA/HMDA analysis needs
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#2910 - 10/25/01 04:24 AM
Re: New Census Tracts
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Platinum Poster
Joined: Jul 2001
Posts: 566
Marietta, GA
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Recently I read something that said we should not start using the revised Census numbers yet. I also read something about changes to MSAs in the CRA/HMDA Reporter. It said the OMB updates the MSA definitions at the end of June each year. They do not want us to use the updates until the following year since we have already collected 6-months of data and should not have to incur the burden in revising the data collected previously. The FFIEC website has great information.
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#2912 - 10/28/01 08:22 PM
Re: New Census Tracts
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10K Club
Joined: Oct 2000
Posts: 27,754
On the Net
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I would say, based on the FFIEC letter, that the old materials should be used. The maps came from the Census Bureau, not your regulator. When they evaluate you, they'll be using the 1990 information. You run dual reporting if you wanted, but that would seem to be creating work to me. ------------------ Andy Zavoina Opinions stated are not necessarily that of my employer.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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