Upcoming CRA Exam - Are You Prepared?

By: Bill Dolan, CMB, AMP

Do you know what your examiners are looking for today? Will you meet their expectations for your CRA program? Will you know how to respond when they ask what is your CRA program? At SCA, we sure know the answers to these questions and so much more!

If you want to have a successful CRA exam, you need to be prepared and know exactly what the examiners will focus on and, whether any potential fair lending violations could crop up and be identified.

SCA’s Compliance Consulting team of experienced (avg. 25-30 years) subject matter experts will provide you with an assessment of your institution’s performance, applying techniques that are employed by the FDIC, OCC, and the FRS, in their examination procedures. SCA will review the following program elements in preparation for your upcoming examination:

• CRA Lending Data, to specifically analyze the HMDA and Small Business Data generated from your last exam period to the current year, This, will be the major focus for CRA performance by the examiners.

• CRA CD Performance Metrics

• Fair Lending Data Analysis

SCA not only identifies gaps, weaknesses, and inconsistencies in your data, but will provide the necessary recommendations to implement corrective actions prior to the examiners on-site arrival.

SCA’s objective is to also identify critical deficiencies in the performance that may not be able to be resolved prior to the examination. SCA will provide the strategy for addressing those issues and recommend constructing an action plan with explanations and actions that will lower your institution’s exam risk.

And depending on the timing of your exam, SCA will prepare an Executive Summary and deliver a presentation (remotely) of such materials for your Board of Director’s meeting prior to the examination.

Now that you know what SCA can do for you prior to your next CRA exam, Contact Bill Dolan, Director, at (617) 694-2617 to arrange a CRA Assessment Review today, or email Bill at: wdolan@scapartnering.com. Also, please visit our website at: www.scapartnering.com to learn more about other consulting and lending services that SCA can provide your institution today.