Schedules for examinations of banks for compliance with anti-redlining laws were set Thursday for the second and third quarters of the year by two of the federal banking agencies.
The Federal Deposit Insurance Corp. (FDIC) said it plans to examine 426 banks during the second and third quarters of the year. The Office of the Comptroller of the Currency (OCC) said it would inspect 150 banks during the same period.
The FDIC noted that CRA examinations are scheduled based on an institution’s asset size and CRA rating. Short of a reasonable cause, the agency said an institution with $250 million or less in assets and a CRA rating of “satisfactory” (which the vast majority of banks receive) can be subject to a CRA examination no more frequently than once every 48 months.
Likewise, an institution with $250 million or less in assets and a CRA rating of “outstanding” (a limited, but growing, number of banks) can be subject to a CRA examination no more frequently than once every 60 months.
FDIC Issues CRA Examination Schedules for Second Quarter 2024 and Third Quarter 2024
OCC Issues Second and Third Quarter 2024 CRA Evaluation Schedule