Memphis, TN – CRA Partners, a subsidiary of the Independent Community Bankers of America (ICBA), announced the addition of CRA support services under an agreement with Michael P. Wallace of Wallace Consulting Co. LLC to help community banks meet new Community Reinvestment Act requirements.
“Michael’s deep understanding of the complexities of CRA allows us to assist in the optimization of bank policies and practices in order to achieve the best outcomes in the markets where they operate,” said David Lenoir, president and CEO, CRA Partners. “As a former supervisory examiner with the Federal Reserve System, he’s provided oversight on more than 100 compliance and CRA examinations during his nearly 20-year regulatory career and regularly provided CRA and fair lending training to examiners, bankers, and the public, making him ideally suited for this work.”
Customizable CRA support services — including options for self-evaluations for banks of all sizes, community development activity evaluations, CRA rating appeals, strategic plan development, and more — will help banks determine the best path forward to fulfill community reinvestment goals and obligations, track them, and clearly communicate value to examiners.
“I’m delighted to be working with an established leader in the CRA space to help banks bridge any gaps they may be facing as they adjust to the new regulatory environment,” said Wallace.
Learn more at shcpfoundation.org/cra-partners.
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About CRA Partners
CRA Partners offers CRA support services, the CRA Collaborative Peer Group, and compliance solutions powered by the Senior Housing Crime Prevention Foundation. Since its inception in 2000, it has helped banks across the country earn meaningful CRA credit for ensuring safe senior living environments through turnkey crime prevention programs. Funded exclusively by the banking industry and endorsed by bank associations in 30+ states, CRA Partners works with banks to protect low- and moderate-income seniors living in senior housing facilities, HUD communities, and state veterans homes from theft, abuse, and neglect—all with flexible funding options to make it simple for banks to get involved.
About Wallace Consulting Co., LLC
Wallace Consulting Co., LLC provides CRA, fair lending, and HMDA services to banks of all sizes. Since its inception in 2015, it has served banks with total assets ranging from as little as $65 million to over $200 billion. Between his regulatory and consulting background, President Michael P. Wallace has almost 28 years of CRA and compliance experience.