The Office of the Comptroller of the Currency (OCC) recently released its latest list of banks that were checked for how well they follow the Community Reinvestment Act (CRA). This Act makes sure that banks give loans and financial help to low- and middle-income neighborhoods, not just rich areas.
In this report, six banks were rated “Outstanding” for their efforts. This means they did an excellent job in helping their local communities.
Another nine banks were rated “Satisfactory”, which means they did a good job, but there is still room to do even better. No bank got a “Needs to Improve” or “Substantial Noncompliance” rating, which is a positive sign.
What is the Community Reinvestment Act (CRA)?
The CRA was created in 1977 to stop unfair lending practices. Back then, some banks were not giving loans to people living in minority or poor areas, even if they qualified. The CRA changed that by requiring banks to serve everyone fairly, no matter where they live.
The CRA makes sure that banks:
- Give loans to low-income families
- Open branches in all types of neighborhoods
- Help local businesses and communities grow
Banks That Got ‘Outstanding’ Ratings
Here are the banks that received the highest rating from the OCC:
| Bank Name | Location |
|---|---|
| TD Bank, N.A. | Wilmington, Delaware |
| Credit One Bank, N.A. | Las Vegas, Nevada |
| The National Bank of Adams County | West Union, Ohio |
| First Federal S&L Association of McMinnville | McMinnville, Oregon |
| Ladysmith Federal S&L Association | Ladysmith, Wisconsin |
| Big Horn Federal Savings Bank | Greybull, Wyoming |
These banks were recognized for their strong efforts to help their entire community, especially those who need it the most.
Banks That Got ‘Satisfactory’ Ratings
These banks did well but can improve further:
| Bank Name | Location |
|---|---|
| The First National Bank of Hartford | Hartford, Alabama |
| Chino Commercial Bank, N.A. | Chino, California |
| EH National Bank | Beverly Hills, California |
| First Mid Bank and Trust, N.A. | Mattoon, Illinois |
| The Riddell National Bank | Brazil, Indiana |
| American National Bank of Minnesota | Baxter, Minnesota |
| Farm Bureau Bank, FSB | Reno, Nevada |
| Greenville Federal | Greenville, Ohio |
| Texas Gulf Bank, N.A. | Houston, Texas |
Who Gives These CRA Ratings?
The OCC is one of three organizations that check if banks follow CRA rules:
| Organization | Checks These Banks |
|---|---|
| OCC | National Banks and Federal Savings Associations |
| Federal Reserve Board | State-chartered banks that are part of the Federal Reserve |
| FDIC | State-chartered banks that are not part of the Federal Reserve |
Why CRA Ratings Matter
CRA ratings are important because they:
- Show how much banks are helping the community
- Influence whether banks can expand or open new branches
- Help customers choose responsible banks
If a bank wants to merge or grow, a low CRA rating could delay or stop that process. So, banks are motivated to perform well.
The CRA is a vital rule that keeps banking fair and helpful for everyone. With six banks receiving the top “Outstanding” rating,
it shows that many banks are stepping up and helping their local neighborhoods. Whether it’s giving loans to small businesses or helping families buy homes, these banks are making a difference.
More importantly, the OCC’s reports help us understand which banks are truly working for the good of the people. As more banks follow these high standards, our communities will grow stronger, fairer, and more united.
FAQs
What does an “Outstanding” CRA rating mean?
It means the bank is doing an excellent job in helping all parts of its community, especially low-income areas.
What is the role of the OCC?
The OCC checks if national banks are giving fair services to everyone, as per CRA rules.
Why were CRA rules created?
To stop banks from refusing loans to poor or minority communities, even if they could pay back.