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Sampling and Resubmission of CRA Data

Sampling and Resubmission of CRA Data 2025

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The document outlines the Community Reinvestment Act (CRA) policies regarding the sampling and resubmission of data collected by state member banks. It details a uniform policy adopted in August 2001 for verifying CRA data accuracy, including a two-tier sampling method for examiners to assess loan files. The document also specifies key fields for small business, small farm, and community development loans, along with guidelines for data resubmission based on error rates. Additionally, it provides procedures for conducting community contact interviews to gather information about local credit needs and the performance of financial institutions.

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What is the purpose of the CRA file?

An institutions CRA record is taken into account in considering applications for deposit facilities, including mergers and acquisitions. Maintaining a Satisfactory or better CRA rating will also result in less frequent CRA examinations at your institution.

What does CRA stand for in finance?

The Community Reinvestment Act (CRA) was enacted to encourage banks to meet the credit needs of the neighborhoods in which they operate, including low- and moderate-income (LMI) communities.

What is a CRA in data?

Data collection, maintenance, and reporting are important aspects of financial institution evaluations under the Community Reinvestment Act (CRA).

What qualifies for a CRA loan?

In order to receive credit under the CRA, loans, investments and services made by banks must have a primary purpose that generally improves the circumstances for low- and moderate-income families or individuals as well as stabilizes and/or revitalizes their neighborhoods.

Can a loan be HMDA and CRA reportable?

Regarding HMDAa reportable loans that are also qualified as community development, i.e. multi-family, affordable housing, those will continue to be reported under HMDA and under CRA.

What information is found in the CRA?

The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials.

What is a CRA data collection required for?

The CRA regulations require that information on business, farm, and community development lending by large insured depository institutions be made available to the public. CRA directs the agencies to encourage insured depository institutions to help meet the credit needs of the communities in which they are chartered.

What is a CRA requirement?

The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods.

Sampling and Resubmission of CRA Data 2025

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