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Intermediate-Small banks should file CRA activity

Question: 
Is there any reason why an Intermediate-Small bank should voluntarily file its annual CRA activity?
Answer: 

Yes, there is a very good reason. If you voluntarily file your annual CRA activity you will receive an elective to be examined as a large bank, rather than as an ISB. This can be advantageous if you have weak Community Development activity because satisfactory CD activity is required to pass a CRA ISB exam but is not necessary to get a composite satisfactory rating for a large bank CRA exam.

Vendor: 
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First published on 09/18/2022

Filed under: 
Compliance
Filed under compliance as: 
CRA

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