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Live Webinar

60-minute live streaming program
  • July 18
  • 1:00 - 2:00 pm EST

Community Reinvestment Act Update

July 18

Gain a better understanding of where CRA will ultimately emerge and inform the next several decades of regulation.

The outcome of a CRA Examination may impact your bank’s ability to expand its operations or merge with other institutions and may affect the perception of your institution in the community. Successful CRA Exams require planning, recordkeeping and follow-up. In August 2018, the OCC published an Advance Notice of Proposed Rulemaking entitled Reforming the Community Reinvestment Act Regulatory Framework. The response of CRA stakeholders, including banks and bank trade associations, community groups and advocacy groups and state regulators, was overwhelming and reflected a variety of approaches. We expect that other federal regulators will inform the OCC’s lead on the rulemaking and that proposed rules will be issued for comment in the final quarter of 2019 or the first quarter of 2020. This material will inform your understanding of where CRA will ultimately emerge and inform the next several decades of regulation.

Learning Objectives

  • You will be able to discuss the current CRA modernization and reform efforts, discuss the positions of various stakeholders on modifying CRA and anticipate new proposed rules.
  • You will be able to differentiate CRA from Fair Lending laws, and determine and explain how the two schemes interact.
  • You will be able to review CRA Reports, explain the impact of a negative outcome of a CRA exam and suggest approaches to improve your CRA rating.
  • You will be able to describe the current approach of federal bank regulators to CRA.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview—Sources: Statute, Regulation, Examination Manuals and Examination Reports of Peers
Current Regulation and Approach of Bank Regulators
  • Regulation – What Goes Into CRA Rating
  • How to Prepare for Examinations – Recordkeeping, Coordination of Compliance Officer, Lenders and Board and Bank Practices and Procedures
  • CRA Reports by Regulators – Anticipating, Identifying and Responding to Examiner Concerns
  • Regulatory and Other Effects of CRA Rating
  • Appeals of Negative Rating
Modernization of CRA
  • August 2018 OCC Publication – Solicitation of New Ideas and Response to OCC Questions
  • Approximately 1500 Comments
  • Approach of the Federal Reserve and FDIC
  • Current Status of Modification and Reform – Proposed Regulations Expected in 4Th Quarter of 2019 or 1St Quarter of 2020
Alternative Approaches to CRA
  • Redefinition of Assessment Area
  • Use of Nontraditional Channels for Lending and Investment
  • Investments in Indian Country and Other Communities With Low- and Moderate-Income Populations
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AL CLE 1.0
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.0 hours credit.
     
  • AR CLE 1.0
     
  • This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.0
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.0
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
     
  • CT CLE 1.0
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
     
  • GA CLE 1.0
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
     
  • HI CLE 1.0
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
     
  • IL CLE 1.0
     
  • This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.0
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.0 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.0
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.0 credit hours.
     
  • MT CLE 1.0
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.0 CLE credits.
     
  • NC CLE 1.0 (Pending)
     
  • NH MCLE 1.0
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 60 Minutes.
     
  • NJ CLE 1.2
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.2 hours of total CLE credit.
     
  • NV CLE 1.0
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.0 CLE hours.
     
  • PA CLE 1.0
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • TN CLE 1.0
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.0 hours of credit.
     
  • VT CLE 1.0
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hours of CLE credit.
     
  • WA CLE 1.0
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.0
     
  • This program has been approved by the Board of Bar Examiners for 1.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.2 MCLE hours.
     
  • CPE 1.2 including Specialized Knowledge 1.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.0 hour.
     

Who should attend?

This live webinar is designed for presidents, vice presidents, branch managers, loan officers, compliance officers, loan department personnel, accountants, controllers, CFOs, credit and collection managers, and attorneys.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

John R. Mussman

John R. Mussman

Rimon P.C.

  • Partner in the Chicago office of Rimon Law
  • Advises banks, mortgage lenders and financial service companies on all aspects of banking and financial services
  • Focuses particularly on issues impacting banking and commercial and consumer credit law and solving problems that arise from time to time between banks and regulators
  • Counselled financial institutions on challenges involving Community Reinvestment Act
  • Conducts regular seminars and workshops on legal developments affecting financial institutions and professional responsibility issues facing bank lawyers
  • Author of articles and reports on bank regulation and compliance
  • Member of Chicago Bar Association (Current Chairman of Financial Institutions Committee); Rimon Law is an associate member of the Illinois Bankers Association
  • Prior to law school served as a research assistant and legislative assistant in the Washington office of U.S. Senator Ed Zorinsky (Nebraska), including liaison with various executive agencies
  • J.D. degree, cum laude, University of Michigan Law School; B.A. degree, cum laude, Kalamazoo College
  • Can be contacted at [email protected] or 312-444-0926 (office) or 312-560-7608 (cell)
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
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  • State Specific Credit Tracker
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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 405828
Published 2019
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