An updated, 111-page list of nonmetropolitan middle-income geographies where revitalization or stabilization activities of banks are eligible to receive Community Reinvestment Act (CRA) consideration was released Friday by federal banking agencies.
Revitalization or stabilization activities in these geographies, which are designated as distressed or underserved, are eligible to receive CRA consideration under the CRA regulation’s community development definition for 12 months after publication of the current list, the agencies said. They noted, however, that “(a)s with past lists, the agencies apply a one-year lag period for geographies that were included in 2023 but are no longer designated as distressed or underserved in the current list.”
Under the anti-redlining statute, the agencies assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations. Friday’s list includes nonmetropolitan middle-income geographies designated as distressed or underserved based on local economic conditions, including unemployment, poverty, and population changes, the agencies said.
Friday’s list was released jointly by the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corp. (FDIC), and Federal Reserve under the umbrella Federal Financial Institutions Examination Council (FFIEC).
Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
2024 List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies