Yes. All small business loans must be coded and reported as such for Call Report purposes. GeoDataVision recommends that a standard operating procedure for CRA purposes would be to review the Call Report coding for all loans boarded during the year and to reconcile to the small business loans identified for CRA purposes. It's not foolproof (the Call Report codes could be completed incorrectly) but it's a best practice that will impress examiners.
Capturing all a bank's reportable small business loans
Question:
Is there a recommended method for "proving" we've captured all our CRA-reportable small business loans?
Answer:
Vendor:
GeoDataVision combines the power of the nation’s top CRA and Fair Lending experts with the power of the most sophisticated mapping and data technologies available to provide financial institutions with a leg up when it comes to regulatory compliance. Being wrong is simply not an option, work with the best, work with GeoDataVision. Request a demo, check out our FREE resources, or talk to one of our experts at (203) 907-7497