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Community Reinvestment Act Update

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.

Runtime: 87 minutes
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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

OnDemand Webinar

This course was last revised on July 18, 2019.

Call 1-866-352-9540 for further credit information.

  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.0
     
  • CA MCLE 1.0
     
  • CT CLE 1.0
     
  • HI CLE 1.0
     
  • IL CLE 1.0
     
  • ME CLE 1.0
     
  • MT CLE 1.0
     
  • NJ CLE 1.2
     
  • NV CLE 1.0
     
  • VT CLE 1.0
     
  • WA CLE 1.0
     
  • WV MCLE 1.2
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

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!

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Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 405828
Published 2019
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Available in Multiple Formats

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