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#1735929 - 08/28/12 07:20 PM Public File
tumbleweed Offline
Member
Joined: Apr 2004
Posts: 86
Michigan
Under CRA-Public File it states a bank shall ensure that the information required by this section is current as of April 1 of each year. We have completed this for 2012. However the examiners will be here in November to complete a full CRA exam and will be reviewing our public file. Is is required to update our assessment area maps and demographic information in the file with 2010 census for this exam?

Any thoughts?
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All statements are my own and not necessarily those of my employer.

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#1735944 - 08/28/12 07:36 PM Re: Public File tumbleweed
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Yes, you need to have new maps and tract listing. Public files were to be updated as of 4/1/2012.
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Kathleen O. Blanchard, CRCM "Kaybee"
HMDA/CRA Training/Consulting/Mapping
The HMDA Academy
www.kaybeescomplianceinsights.com

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#1736182 - 08/29/12 03:07 PM Re: Public File tumbleweed
tumbleweed Offline
Member
Joined: Apr 2004
Posts: 86
Michigan
I had updated as of 4/1/2012 (using 2000 census). However as of June the new 2010 census was released. Question do I need to update maps and demographics with the 2010 census for our exam in November?
_________________________
All statements are my own and not necessarily those of my employer.

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#1736302 - 08/29/12 05:34 PM Re: Public File tumbleweed
CRAatBOK Offline

Power Poster
Joined: Mar 2004
Posts: 6,172
Further South than I wanna be.
While you are probably in compliance with the reg, if I had examiners coming in I would absolutely update my files with 2010 data. Now is the time to be proactive.
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Life is not the way it's supposed to be. It's the way it is. The way you cope with it is what makes the difference.

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