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Join Ads Marketplace to earn through podcast sponsorships.
Manage your ads with dynamic ad insertion capability.
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Earn rewards and recurring income from Fan Club membership.
Get the answers and support you need.
Resources and guides to launch, grow, and monetize podcast.
Stay updated with the latest podcasting tips and trends.
Check out our newest and recently released features!
Podcast interviews, best practices, and helpful tips.
The step-by-step guide to start your own podcast.
Create the best live podcast and engage your audience.
Tips on making the decision to monetize your podcast.
The best ways to get more eyes and ears on your podcast.
Everything you need to know about podcast advertising.
The ultimate guide to recording a podcast on your phone.
Steps to set up and use group recording in the Podbean app.
"The New CRA" features a discussion between Dean Stockford and Len Suzio about the recent changes in the Community Reinvestment Act (CRA) regulations. Len has dedicated significant time to understanding the new CRA rule, which is a lengthy 1,494 pages, and has even published articles on the topic.
He describes the new rule as an "unmitigated disaster for the banking industry," a conclusion drawn not from his personal opinion but from the regulators' own data. The new CRA rule significantly increases the failure rate of CRA exams for banks, estimated to be 10-12%, up from the long-term average of 1.2%. This increase is attributed to the new Retail Lending Test included in the rule.
The new rule introduces additional assessment areas for banks, leading to evaluations in markets far removed from their physical branches. This creates competitive disadvantages for banks in these remote areas, as they are evaluated against the same benchmarks as local lenders. The failure rates in these new assessment areas are alarmingly high, with estimates of 22.4% for Retail Lending Assessment Areas and 28.8% for Outside Retail Lending Areas.
Len highlights that the complexity and size of the new rule, along with the extensive data manipulations required for compliance, may be overwhelming for many. He cites quotes from regulators that explicitly state that the increased failure rate was a deliberate intent of the regulators to "raise the bar" for CRA performance evaluations.
Dean concludes the podcast by expressing that listeners will likely be apprehensive yet eager to learn more about the changes in the new CRA. Both hosts encourage listeners to send in suggestions for future podcast topics.
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