My company has been processing the 2015 CRA flat files since they were released recently by the FFIEC. Unfortunately, it appears there may be problems with the data. We have contacted the Fed to notify them of our findings and we are waiting a response. Last year GeoDataVision also identified problems in the 2014 CRA files which were eventually corrected and the revised files released by the FFIEC in October. Will keep you posted about developments.

GeoDataVision has received confirmation from officials at the Fed that there are indeed errors in the disclosure data for the 2015 CRA data files. We have identified a number of banks whose lending data has not been correctly compiled and reported. The FFIEC will need to reissue the data as soon as all the mistakes are identified and confirmed. GeoDataVision has cited the data from 4 reporters in particular that we determined have errors and have identified the reporters and discrepancies to the FFIEC to facilitate data correction. There may be more but we won't know until we have completed the extensive review we are now conducting. Final results should be determined by next week.

Sounds like the FFIEC should be downgraded, retroactively!!

Same as last year!

Any update on this?

I have been asking the Fed and getting no response other than the initial response which acknowledged the problem. I will advise as soon as I hear anything.

Just heard back from the Fed. They haven't finished making the corrections but they expect to have them completed within the week. Again, I will update readers when the corrections are finished and I am notified by the Fed.

Received more information from the Fed. Looks like the problems have been caused by processing the Aggregate data and the Disclosure data at different times. In between, some updated data appears to have been provided by certain reporters.They think they will release corrected data next week.

Thanks Len

I'm new to parts of this. Is this what is causing the reports for the CRA file not to be available?

Not certain what you mean by the "CRA file". Please clarify

BTW, the HMDA annual data has been delayed too. I am told it should be available late next week.

Thanks, Len. I kind of figured that, given the problems with the CRA data.

I haven't heard a word from the Fed for almost a month. The last communication I received indicated they expected to release the revised and corrected data within a few days. But the original files with incorrect data appear to be still on the website and they have not publicly acknowledged the error (although I have e-mails from the Fed confirming the discrepancies). The state with the most significant disparities is Oklahoma where there was more than a $100 million difference. Other states were affected, but the differences were small and in most cases not statistically significant.