RiskExec has recently been updated to include the following enhancements:
CRA Module: CRA Final Rule Addition
A new report has been added to support our clients’ efforts in complying with the CRA Final Rule.
Facility-Based Assessment Area Identification Report
The report has been added to the CRA module and is called the Facility-Based Assessment Area Identification. It can be found under Executive reports. This report can be used to ensure locations are included in Facility-Based Assessment Areas (FBAA). This report can also be used to understand the volumes of lending in all of the bank’s designated assessment areas, as well as in counties outside any currently designated assessment areas. This functionality can be helpful in identifying Outside Retail Lending areas.
This report provides location counts and volumes of lending by county. The report also includes the average of the percent of number and total by county and area type. This functionality supports users in ensuring all locations are included in FBAAs and whether the volume of lending in the FBAAs necessitates creating retail lending assessment areas.
For specific regulatory guidance, refer to the resources for your bank’s regulator:
OCC Reports: Multi-Year Reporting
Users can now run the Table D - Lending Inside and Outside of the Assessment Area and the Lending Activity (Number of Loans and Dollar Volume of Loans) reports on multiple files from different file years.
The data from the files chosen will be aggregated in the report.
HMDA Module
Disparity Indices Report
Users can now group the Disparity Indices report by Assessment Area.
Note: To use this feature, be sure to have an Assessment Area Set attached in the File Attributes tab of your file and geocoding and edit checks are current.
HMDA, CRA, 1071 SBL Modules
Batch Operation: Delete Records
Users can now add notes when using the Delete Records Batch Operation. The notes will populate in the Change Log Report under General reports.
Assessment Area Module
New Unit Level: Place
Place has been added as an additional Assessment Area Unit Level option for non Submission 2024 Geographic Assessment Area Sets.
2024 File Year
2024 will now be the default file year when accessing modules in RiskExec.
Learn more about the Goals Module and its key monitoring and reporting features.
Learn about the changes of state consumer protection and the responsibility of financial services institutions to pursue operational excellence and a culture of compliance.
Regulatory and technology experts discuss innovation, CRA reforms, and how single-close construction loans are reenergizing rural America.
