#48: Just 120 Business Hours Left...

Why does February only have 28 days? It seems so wrong as we are up against our March 1st CRA data reporting deadline! For those of you with CRA data reporting requirements, by now you have filed or might be working the weekend to prepare your small business, HMDA and community development loans data for FRB submission. Since time is of the essence, I recommend you do a "hail mary" last minute data integrity review to mimic a data integrity exam, much like what our examiners will do on-site prior to a full scope CRA examination.https://kajabi-storefronts-production.global.ssl.fastly.net/kajabi-storefronts-production/themes/1621312/settings_images/KjOTyo8DTGOZ0El5W7Po_Screenshot_2020-02-28_07.25.24.pngAs many of you have experienced, and may have already integrated into your compliance management system, periodically sampling your data is a cornerstone of ensuring CRA data integrity. If you haven't mimicked a CRA data integrity exam lately, use the link below to remind your team how to follow the FRB's approach to data sampling. And, if things "go south" post review, data resubmission instructions are included, too! These data resubmission instructions are geared for data-integrity exams, but can be used as a guide to determine if you want to resubmit during your annual filing process before the data is aggregated and available for public consumption.Consumer Compliance Handbook (Page 852-854): https://www.federalreserve.gov/boarddocs/supmanual/cch/cch.pdfBe sure to report your findings and your specific recommendation to executive management.CRA Today helps bankers master the Community Reinvestment Act, get exam ready, and change lives through the power of community development.Want to learn the CRA basics? Sign up for CRA Essentials Live! A live webinar with Linda Ezuka that shares everything you need to create a solid foundation for your CRA journey. https://hub.cratoday.com/freewebinarReady to take a deeper dive into the CRA? Join your fellow CRA enthusiasts in the CRA Hub as we navigate regulatory change, study core CRA concepts and connect as community development professionals across the nation.https://cratoday.com/hub/Are you understating your lending performance? Learn the 5 Foundational Steps to Building an Outstanding Community Development Loan Portfolio with an on-demand training workshop.https://cratoday.com/blueprint/CRA Today Website: https://cratoday.com/ Linda Ezuka, LinkedIn https://www.linkedin.com/in/linda-ezuka-cra-today/Copyright © 2022 by CRA Today LLC(No claim to original U.S. government material)All rights reserved. No part of this podcast may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, including electronic, mechanical, photocopying, recording, or otherwise, without prior written permission of the author and publisher.This podcast is a periodic publication of CRA Today LLC and is intended to notify and inspire recipients of new developments in the Community Reinvestment Act. It should not be construed as legal advice or legal opinion on any specific facts or circumstances. The contents are intended for general informational purposes only, and you are urged to consult your own attorney concerning your situation and specific legal questions you have.Podcast production and show notes provided by HiveCast.fm