The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Phil Banker February 7, 2017 1,357 Views Sign up for DS News Daily Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Office of the Comptroller of the Currency recently released a list of Community Reinvestment Act (CRA) performance evaluations that became public last month. Of the 20 bank evaluations made public, two of them were rated “outstanding” while the other 18 were rated “satisfactory.”The list includes evaluations that became public during the month of January 2017 and includes national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings, according to the OCC.The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.HSBC Trust Company and United Community Bank of Lawrenceburg, Indiana were rated as “outstanding.” None of the entities received ratings of “needs to improve” or “substantial noncompliance.”The Community Reinvestment Act designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods. The Act prohibits the denying or increasing the cost of banking to residents of racially defined neighborhoods, better known as redlining, according to the OCC’s website.The Act instructs the appropriate federal financial supervisory agencies to encourage regulated financial institutions to help meet the credit needs of the local communities in which they are chartered, consistent with safe and sound operation. To enforce the statute, federal regulatory agencies examine banking institutions for CRA compliance, and take this information into consideration when approving applications for new bank branches or for mergers or acquisitions.For a list of all of the entities whose ratings were made public this month, click here. A searchable list of all public CRA evaluations can be accessed through the OCC’s website by clicking here. Phil Banker began his career in journalism after graduating from the University of North Texas. He has covered a number of communities across Texas and southern Oklahoma, writing news and sports for publications including the Ardmoreite, Ennis Daily News and the Plano Star-Courier. He is currently a contributor to DS News and The MReport. in Daily Dose, Featured, Headlines, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago OCC Releases CRA Evaluations for 20 Financial Institutions Print This Post Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / OCC Releases CRA Evaluations for 20 Financial Institutions Previous: Fed’s MBS Drawdown Could Affect Housing Market Next: LenderLive Hires VP of National Sales Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2017-02-07 Phil Banker Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe
BINGHAMTON (WBNG) — Congressman Anthony Brindisi told 12 News on Tuesday that he’s working on a new relief package in the ongoing response to the COVID-19 Outbreak. Brindisi says bi-partisan efforts and talks are occuring down in Washington, his colleagues agree this is an important step to helping those who need it. This new Stimulus package will get additional funding aid to hospitals and health care workers on the front lines, as well as provide support to small businesses applying for loans and will get money to the state and local governments experiencing shortfalls due to the pandemic. “We have to get money to our hospitals, many of our hospitals don’t have a lot of cash on hand to go multiple weeks or months without new revenue coming in. So we have to get funding to our hospitals to fight this pandemic and support our health care workers,” Brindisi says.
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