OCC Describes Impact of CRA Ratings on Licensing Applications

Wednesday, November 8, 2017 - 2:30pm

The Office of the Comptroller of the Currency (OCC) today released a Policies and Procedures Manual issuance describing its framework for evaluating certain types of licensing applications when an applicant bank has an overall less than satisfactory rating (needs to improve or substantial noncompliance) under the Community Reinvestment Act (CRA) or a less than satisfactory CRA rating in one or more geographic areas. The guidance applies to all OCC-supervised banks subject to the CRA, including community banks.