Two of 54 banks received ratings of “needs improvement” recently for their compliance with anti-redlining rules, the federal insurer of bank deposits said Wednesday.
The Federal Deposit Insurance Corp. (FDIC), however, also reported that the remaining 52 banks earning ratings of “satisfactory” for their compliance with rules implementing the Community Reinvestment Act (CRA).
No banks earned either the highest rating of “outstanding” for CRA compliance; likewise, no banks earned the lowest rating for “substantial noncompliance.”
The ratings released Wednesday are for those assigned to banks in June, the agency said.
The two banks earning the “needs improvement” ratings were:
- United Savings Bank, Philadelphia, Pa.
- BMW Bank of North America, Salt Lake City, Utah.
Monthly List of Banks Examined for CRA Compliance – September 2024