FDIC Unveils CRA Exam Schedule for Q4 2022 & Q1 2023

Washington, D.C. – The Federal Deposit Insurance Corporation (FDIC) has released its comprehensive schedule for Community Reinvestment Act (CRA) examinations that will take place during the fourth quarter of 2022 and the first quarter of 2023. This critical examination process is designed to ensure that banks are fulfilling their obligations under the CRA, which mandates that financial institutions provide fair access to credit in all communities they serve, particularly those with low- and moderate-income populations.

The schedule, now available to the public, outlines specific institutions that will be subject to CRA examinations during these designated periods. The FDIC emphasizes that these exams are vital for assessing banks’ compliance with the Act’s goals of promoting economic inclusion and community development.

Under the CRA, federal bank and thrift regulators are required to publish their examination schedules at least 30 days prior to the start of each quarter. This transparency ensures accountability and allows interested parties to voice their opinions on the institutions being examined. Public comments are particularly valuable in highlighting areas where banks may need improvement or are excelling in meeting community credit needs.

FDIC’s CRA examination schedules are based on an institution’s asset size and its CRA rating, which can influence the frequency of examinations. Institutions with $250 million or less in assets and a CRA rating of Satisfactory can be examined no more than once every 48 months, while those with an Outstanding rating can go up to 60 months without an exam, unless reasonable cause is shown.

However, it’s important to note that the schedules are subject to change. For instance, a financial institution not originally scheduled for an examination may be added due to its application for a deposit facility, or an examination might be delayed if more time and resources are needed. Any rescheduling will be reflected in subsequent lists.

For those seeking further information or wishing to submit comments on the upcoming CRA examinations, the FDIC provides various contact points, including phone numbers, fax numbers, and physical addresses. The schedules can also be accessed online through the FDIC’s official website.

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