Community Reinvestment Act (CRA) compliance has always been a critical compliance activity for banks. Bank regulatory agencies released a joint rulemaking proposal to amend the 1977 Community Reinvestment Act, which requires banks to provide services to low- and moderate-income (LMI) communities. Regardless of whether the proposed rulemaking becomes final or is amended, the regulatory and political focus on CRA, and how banks and credit unions are investing in underserved communities, is intensifying. Banks and credit unions need to develop strategies and look for growth opportunities to ensure they are serving markets that may lack access to financial products, not only from a compliance perspective, but also from a reputational one.
During this webinar we will:
- Examine how the Capital IQ Pro Platform can give banks and credit unions the data and tools you need to evaluate your CRA activities:
- Understand the demographics of your markets and identify low-to-moderate income areas by Census Tract to recognize opportunities to serve those populations
- Upload data to our mapping tools to evaluate your branch network and deposit and lending activities in LMI areas
- Identify what loans your competitors are making and what lending relationships you may have missed
- Evaluate the data available if you’re a Community Development Financial Institution (CDFI), looking to become a (CDFI) or want to engage in community development lending
- Understand how our Business Listings database can help you target specific businesses once you categorize geographic areas for community reinvestment
- Utilize Vertical IQ’s industry intelligence and financial benchmark data to become a trusted partner for targeted businesses that support community development initiatives.
