The purpose of this course is to provide an overview of the Community Investment Act (CRA) as it applies to community banks. You will learn about the purpose and background of CRA, as well as consequences of noncompliance and evaluation methods. In addition, you will learn about the technical rules for small banks and factors to consider when assessing CRA performance. Finally, you will learn important information about CRA ratings and strategies to maintain a Satisfactory or Outstanding performance rating.
1:40min | Credits: 2 CRCM, CLBB
Description: Describes the purpose, background, and importance of CRA. Explains the technical rules for small banks, factors to consider when assessing CRA performance, and consequences of noncompliance, and explores information about CRA ratings and strategies to maintain a Satisfactory or Outstanding performance rating.
Students will learn through combination of instructor videos, exercises, readings, glossaries, self-assessments and more. Students will complete each course with a final exam to earn Certified Regulatory Compliance Manager (CRCM) credits.
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.
After completing this course, students will be able to
- Explain the purpose of CRA, consequences of noncompliance, and evaluation methods
- Describe CRA technical requirements for community banks
- Identify factors examiners consider when assessing CRA performance
- Explain the CRA ratings and key strategies to maintain a Satisfactory or Outstanding performance rating