Independent Banker - November 2022 - 38

PORTFOLIO
" A different model is required to evaluate
today's [increasingly digital] banking
environment for CRA, as opposed to the
branch-based ... model. "
-MICHAEL MARSHALL, ICBA
thresholds for ratings.
 Retail Services and Products
Test. This test would primarily
evaluate branch distribution and
the ability of low- and moderateincome
customers to access bank
branches, including extended
business hours, providing bilingual
or translation services, free or
low-cost check cashing, reasonably
priced international remittance
services and electronic benefit
transfer accounts.
 Community Development
Financing Test. The new
Community Development Financing
Test would apply to large banks
and any intermediate bank that
opts into it. The test will consist of a
community development financing
metric and benchmarks and an
impact review.
 Community Development
Services Test. The new CD
Services Test would assess a large
bank's record of helping to meet
the community development
services needs in the bank's facilitybased
assessment areas, states,
multistate MSAs and nationwide
areas by qualitatively considering
the extent to which a bank provides
community development services
and the impact and responsiveness
of these activities.
The U.S. House of Representatives
Committee on Financial Services
has reviewed the recent CRA
developments, including how the
proposed rule will evaluate bank
lending and financial services in the
context of increasing digital banking
relationships; whether it will lead to
expanded access to financial services
and credit to LMI communities and
communities of color; and its potential
in finally putting an end to modernday
redlining. Further developments
are expected.
" CRA currently has some means to
get at the racial wealth gap. The fair
lending record is considered as part
of the CRA examination, " observes
Marshall. " There are provisions to give
credit for partnerships with minorityowned
depository institutions or loans
and investments made through special
purpose credit programs. "
" The two major pushes for CRA
modernization have been how do we
make a more transparent CRA rule
and how do we evaluate new business
models, " he adds. As ICBA advocates
to help shape the direction of the CRA
revisions, community banks should
consider how the proposal might
affect their CRA programs. 
Mary Thorson Wright is a writer
in Virginia.

Independent Banker - November 2022

Table of Contents for the Digital Edition of Independent Banker - November 2022

Table of Contents
Independent Banker - November 2022 - Intro
Independent Banker - November 2022 - Cover1
Independent Banker - November 2022 - Cover2
Independent Banker - November 2022 - Table of Contents
Independent Banker - November 2022 - 2
Independent Banker - November 2022 - 3
Independent Banker - November 2022 - 4
Independent Banker - November 2022 - 5
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Independent Banker - November 2022 - Cover3
Independent Banker - November 2022 - Cover4
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