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The Difference Between REMA and Assessment Area

Question: 
What's the difference between a REMA and an Assessment Area?
Answer: 

Both REMA and Assessment Area refer to geographic areas a financial institution serves. Understanding this geographic area is necessary when analyzing an institution's data for compliance, and evaluating performance compared to peers.

"REMA" stands for Reasonably Expected Market Area, sometimes shortened to just Market Area. It is used when discussing Fair Lending analysis, particularly Redlining. "Assessment Area" is used in CRA analysis.

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TRUPOINT Partners provides regulatory compliance solutions and services to more than 450 financial institutions nationwide. We specialize in risk assessments, data analysis, geo-coding and consulting for BSA/AML, CRA, Fair Lending, HMDA & UDAAP compliance. To learn how we can help you achieve your compliance goals, visit www.trupointpartners.com, call 704.401.1730, or email info@trupointpartners.com.

First published on 11/13/2016

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