As part of the recent CRA final rule, are banks required to have their CRA public file available on their website by 4-1-24?

Also, were there clarifications made on when the public file must be updated each year? Seems I heard something about this, but can't put my finger on it now.

Curious if any FIs are updating CRA policies regarding public files? Can we just direct individuals to our website if they request to review our public file? Or must we still provide them physical copies (and charge a reasonable fee for the copies)?

I am also wondering about branch notices. Is the verbiage changing? We will only have FBAAs, so I'm thinking each branch will need a posted notice.

Update the file each quarter by the last day of each quarter.

March 31st
June 30th
September 30th
December 31st

And the requirement to change the branch files has been delays until 1.1.2026

I was on a webinar yesterday that was put on by Kadince and Linda Ezuka was the speaker. During the webinar, she stated that "A bank that maintains a website must maintain all public file information on the bank's website. This does not require banks to create an external website if they do not have one".

after reading the proposed rule it states “In order to ensure that a bank’s CRA performance evaluation and related information are more readily accessible to the public, the agencies propose allowing any bank with a public website to post its CRA public file there”

My question is, based on the language from the proposed rule, it states "allowing any bank", that makes me think that it is not required. Is this a true requirement or a recommendation?

Seems pretty clear to me.

.43(c) Location of public information. A bank must make available to the public for inspection, upon request and at no cost, the information required in this section as follows:
(1) For banks that maintain a website, all information required for the bank’s public file under this section must be maintained on the bank’s website.

thank you! i just wanted to clarify before we started working with the marketing department on the process / availability of being able to put it on our website

Does the new rule have any changes to what's required in the public file? I only briefly looked at the particular section and didn't see anything new, but I want to make sure I don't miss anything before putting the public file on our website.

Thanks!

We will put the CRA public file on our website by 4/1/24 and update quarterly as required. I'm wondering if we still need to maintain the notebooks in each of our branches or does having it on the website replace the need for each branch to have a public file (which we currently have in notebook form.) My thoughts are we can do away with the notebooks, but want to confirm.

The way I interpret it is that the requirement to have the file maintained at the main office and at branches is only required if the bank does not maintain a website.

(c) Location of public information. A bank must make available to the public for inspection, upon request and at no cost, the information required in this section as follows:
(1) For banks that maintain a website, all information required for the bank’s public file under this section must be maintained on the bank’s website.
(2) For banks that do not maintain a website:
(i) All the information required for the bank’s public file must be maintained at the main office and, if an interstate bank, at one branch office in each State; and
(ii) At each branch, the following must be maintained:
(A) A copy of the public section of the bank’s most recent CRA performance evaluation and a list of services provided by the branch; and
(B) Within five calendar days of the request, all the information that the bank is required to maintain under this section in the public file relating to the facility-based assessment area in which the branch is located.

We've maintained branch files within our Intranet with only a paper file at the main office for years. This new process should eliminate that step.

My external auditing firm provided me with two "big banks" so I could see a good example. Man! It was way above my thought process.

https://www.citizensbank.com/community/cra.aspx
https://www.53.com/content/fifth-third/en/personal-banking/about/cra.html

I appreciate you sharing some examples.

The changes to the public file effective April 1, 2024 include the aforementioned requirement to post any and all material to be maintained in the public file on the bank's website if it maintains a website. The other significant change is the requirement to post on a quarterly basis any public comments received about CRA and any branches opened or closed during the last calendar quarter.

How about the Lobby Notice, is it also due on 4/1/24.

See Section _____.44 Public Notice by Banks in the final rule.

Good Morning All,

Jumping in late. I am not sure you have to post on your web site. Take a look at the actual rules adopted by your regulatory agency.

For example, my bank is a FDIC regulated bank and the rule stated in the Federal Register is as follows.

12 CFR 345.43(c) Location of public information. A bank shall make available to the public for inspection upon request and at no cost the information required in this section as follows:
(1) At the main office and, if an interstate bank, at one branch office in each state, all information in the public file; and
(2) At each branch:
(i) A copy of the public section of the bank’s most recent CRA Performance Evaluation and a list of services provided by the branch; and
(ii) Within five calendar days of the
request, all the information in the public file relating to the assessment area in which the branch is located.
(d) Copies. Upon request, a bank shall provide copies, either on paper or in another form acceptable to the person making the request, of the information in its public file. The bank may charge a reasonable fee not to exceed the cost of copying and mailing (if applicable).
(e) Updating. Except as otherwise provided in this section, a bank shall ensure that the information required by this section is current as of April 1 of each year.


Thoughts???

Well, there is sort of a disconnect between that and the discussion in the preamble.

The agencies are revising proposed § __.43(c)(1) with a technical change to separate the
location requirements for a bank’s public file. Under final § __.43(c)(1), all information required
for the bank’s public file must be maintained on the bank’s website, if the bank maintains one.
Under final § __.43(c)(2), the agencies are clarifying the requirements for banks that do not
maintain a website. As proposed, final § __.43(c)(2)(i) requires that a bank must maintain all the
information required for the bank’s public file at the main office, and, if an interstate bank, at one
branch office in each State. Final § __.43(c)(2)(ii) clarifies that at each branch, the bank is
required to maintain a copy of the public section of the bank’s most recent CRA performance
evaluation and a list of services provided by the branch. This clarification is consistent with the
requirements that banks must make available at each branch under current CRA regulations, as
well as the agencies’ intent under proposed § __.43(c)(2), as described in the proposal.1

Thanks for the clarification.
 
Being the big cynic I am, when is said revision to be published?

It was published in the 02/01/24 final rule: https://www.federalregister.gov/doc...unity-reinvestment-act#citation-81-p6588

Ia m not trying to be disagreeable. Take a look at page 7218 (Federal Register / Vol. 89, No. 22 / Thursday, February 1, 2024 / Rules and Regulations), that is where I copied my original text from.

That is why I am saying that there is a real disconnect. That does not conform to the common rule as published on page 7107 but will most likely be added to the individual agency rules at a later date.

Wow that is confusing, because on page 7137 of the common rule it is clearly stated about the website, but when you look at the FRB, FDIC and OCC rules that were published it is not included.

That is why I am a bit confused. While I do not have an issue publishing the public file on our web site if required, since it has been digitized since 2021 and on our intranet, I would rather not OVER disclose either.

Is this requirement to publish the public file on the bank's website not "delayed indefinitely?"

"Effective date: This rule is effective on April 1, 2024, except for amendment nos. 29, 52, and 75, which are effective April 1, 2024, through January 1, 2031, and amendment nos. 7, 11, 18, 20, 25, 35, 39, 43, 45, 49, 58, 62, 66, 68, and 72, which are delayed indefinitely. The agencies will publish a document in the Federal Register announcing an effective date for the delayed amendments."

The website requirement appears to be number 68.

Just curious. I saw that and thought that was probably the case, but I could not find the numbered amendments. Can you post the link to the amendments by number or indicate where you can find them? I could not find it in the FR.

Finally found it in the FR: Page 7207.

I just posed this question to our auditor and he said the delayed indefinitely refers to the 1071 citations in the CRA and not to the website rule.

I think your auditor needs to re-read the 02/01/24 Federal Register. It does not relate to 1071

DATES:

Effective date:

This rule is effective on April 1, 2024, except for amendment nos. 29, 52, and 75, which are effective April 1, 2024, through January 1, 2031, and amendment nos. 7, 11, 18, 20, 25, 35, 39, 43, 45, 49, 58, 62, 66, 68, and 72, which are delayed indefinitely. The agencies will publish a document in the Federal Register announcing an effective date for the delayed amendments.

After looking at it more, I think I agree with him.

The change to 345.43(c)(1) requiring the CRA file be on the website shows in the final rule under subpart D (page 7137)

Amendment 68 was to add paragraph (b)(2)(iii), which (would have) required a statement in the public CRA file on the availability of the small business lending data on the CFPB's website.

I am not sure what you are referring too? Page 7137 deals with the availability of HMDA data. It has nothing to do with posting anything on the website. Plus, that whole section is about the Common Rule, of which not all of it is effective in April 2024.

https://www.federalregister.gov/d/2023-25797/p-6591

The link above takes you to the section of the federal rule that changes 345.43(c)(1) requiring the public file be on the website. It's located in subpart D of the rule, not amendment 68.

Amendment 68 that is being referenced as delayed indefinitely only adds paragraph 345.43(b)(2)(iii) (statement in public file about the availability of the small business data on the CFPB website) and amends heading of paragraph 345.43(b)(2). Given it references the small business data, it makes sense it's delayed indefinitely as the challenges are considered by SCOTUS. Amendment 68 doesn't have anything to do with the public file being hosted on the website, however.

Ah - OK - I got it. Was misreading that. Thanks. I now agree. Thanks for your persistence

My understanding is that the text of the new common rule, applicable to all agencies, begins on page 7107 of the FR, and goes on through to page 7172, where Appendix G picks up the legacy rules for each agency.
As noted on page 6579 of the FR: Until the applicability dates for these provisions, banks will follow the current CRA regulations, included as appendix G to the revised CRA regulations.
So, my focus is on pages 7107 - 7172 and I will have my Public File on our website, as one of the few provisions required by April 1, 2024.
Good luck everyone!

We are an Intermediate Bank, and I am unclear whether we are to include our Loan to Deposit ratio in the Public File. Under the existing rule “Small Bank” includes Intermediate Small Banks, so we have included it in the past.

The Common Rule says “A small bank..must include in it’s public file the bank’s loan-to-deposit ratio…” , but it only defines a “Small bank” as having assets <$600 Million, and does not seem to include Intermediate Banks. The OCC’s version also states “Small bank….”, but their definition of “Small Bank” has not been updated and is still the existing definition that includes Intermediate Small bank.

Ultimately we can include any other information the bank chooses, so no harm in putting it in. I tend to lean towards the Common rule, but these disconnects make navigation hard. The Public File should have been a fairly easy and straight forward task…

For the public files location on the website does it have to be something on a standalone page or could it be one of the links at the bottom of all our pages, similar to our Privacy Notice?

There is no specific guidance. It just has to be made available.

Thank you

Should the public file be in an ADA compliant format on the website, or would a PDF file suffice?

Additional question - I didn't see a requirement that all or a portion of the lobby notice should be included on the website version of the public file. Will it be acceptable to upload the requirements of the Public File in PDF format without also including a copy of the lobby notice or would it be considered a best practice to include it?

Hello, i am a bit confused on the website public file, if we are an institution that has a website do we "have" to have it on their or is it an option if we maintain a physical paper file

If you have a website, you are required to maintain a copy of your CRA public file on the website as of April 1.

If the institution is not a CRA reportable bank due to its threshold, and the institution does have a website, will the April 1 deadline of posting the CRA public file on bank's website apply?

345.43(c)(1):

(c) Location of public information. A bank must make available to the public for inspection, upon request and at no cost, the information required in this section as follows:

(1) For banks that maintain a website, all information required for the bank's public file under this section must be maintained on the bank's website.

I do not see where this requirement is dependent on being a Small, Small Intermediate or a Large Bank.

Additional question - I didn't see a requirement that all or a portion of the lobby notice should be included on the website version of the public file. Will it be acceptable to upload the requirements of the Public File in PDF format without also including a copy of the lobby notice or would it be considered a best practice to include it?

A public file is a public file and a lobby notice is a lobby notice. How are they related?

BeachBum did you ever hear anything back on this? or find out from another source the answer to this question?

I guess if you are required to make this information available to the public on your website under the regulation, I am not sure why you would do it using a non-ADA compliant process. Your entire website should be designed with ADA compliance in mind.

I was unsure of the same thing, and we have been working to add our public file to our website in compliance with the ADA.
Was curious what BB had heard back on that, if anything.
I am not an ADA expert but I was still interested in what, if anything, BB learned about that and if there was some sort of 'exemption' that I was not seeing in the reg.

Thank you

I'm confused as to the issue with PDF files? I know if you scan a paper in, it could make it difficult for screen readers. I just tested our PDF version of our CRA Public File though, and the screen reader had no issues (PDF converted from Word). Is there another issue with PDFs that I'm not aware of?

I am not that knowledgeable on ADA website compliance. But here is a good article on ADA and PDFs.

https://accessibilitylaws.org/guide...or-ada-compliance-a-comprehensive-guide/

Thanks!

Thank you for the link!