2010 Census Data: How Will it Impact CRA, HMDA and Fair Lending?

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By JB Sloan

On September 28, we held a webcast on the impact of the 2010 census on HMDA, CRA & Fair Lending. We provided an overview of the timeline of various data releases and the demographic trends that might impact your compliance program. Below are some of the questions that were submitted that we did not have an opportunity to answer:

Q: Will I have to re-create all of of my existing assessment areas?
A: Yes. There was a greater than 11% increase in the overall number of census tracts in the country. While some counties experienced no change in their assessment areas, that is the exception and not the rule. When recreating your assessment areas you will want to evaluate the boundaries you are using according to the more recent census data available to be sure you are not excluding any tracts that could cause problems during an exam.

Q: Will PCi re-release the re-run 2010 Peer HMDA data with the 2010 census tract listing as well as the 2006-2010 ACS data in Q1 2012?
A: Unfortunately, no. The Peer data is released at the tract level so there is no way to map it to the 2010 census tract listings. We would require point level peer data in order to be able to make this mapping.
 

 Read the full story on www.riskheadquarters.com
 
 

Posted by Jennifer Purdie at 09/29/2011 03:18:12 PM | 


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