CRA Exams: FDIC Unveils Q2 & Q3 2024 Schedule

GRIMY TIMES – The Federal Deposit Insurance Corporation (FDIC) has dropped the curtain on its Community Reinvestment Act (CRA) examination schedules for the second quarter and third quarter of 2024. This routine, yet crucial exercise in bank oversight highlights institutions set to face scrutiny from federal regulators.

The CRA, a law since 1977, mandates that banks and thrifts support local community needs, particularly those in low- and moderate-income neighborhoods. The examination schedules reflect the FDIC’s commitment to ensuring financial institutions meet these responsibilities while maintaining safe and sound operations.

Examinations are based on an institution’s asset size and CRA rating. Smaller institutions with a ‘Satisfactory’ rating may face a CRA exam no more than once every 48 months, while those with an ‘Outstanding’ rating can go up to 60 months between reviews. The schedules are subject to change due to unforeseen circumstances or regulatory applications.

Public comment on the examination schedule is encouraged. Comments should be directed to the respective institutions or the FDIC regional offices for consideration prior to the completion of examinations.

The attached list of institutions to be examined in Q2 and Q3 2024, based on current information, will help stakeholders understand where regulatory focus lies. Contact details for the FDIC and its regional office contacts are provided for further inquiries.