OCC to Provide Extended Notice for Scheduled CRA Evaluations


On May 31, 2017, the Office of the Comptroller of the Currency (“OCC“) announced it will extend the notification timeline for upcoming Community Reinvestment Act (“CRA“) evaluations. Beginning with the third quarter notification for 2017, the OCC will post the list of financial institutions for which CRA will be coming due over the next two quarters, to allow more time for interested parties to review and provide meaningful comments on a financial institution’s performance before CRA examination. The current regulations require the OCC to publish the quarterly CRA evaluation schedule at least 30 days before the beginning of each quarter. Even though the OCC will publish two quarters of upcoming CRA evaluations, the schedule is subject to change. Release.