Federal Deposit Insurance Corporation publishes October 2024 Community Reinvestment Act ratings for state nonmember banks

The Federal Deposit Insurance Corporation has issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act, covering the evaluation ratings assigned in October 2024. The 1977 Community Reinvestment Act requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations. The release notes that the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires public disclosure of the evaluation and rating for each bank or thrift examined on or after July 1, 1990, and points to both a consolidated historical list of state nonmember bank ratings since that date and the availability of individual CRA evaluations from the bank or the FDIC’s Public Information Center.