Only five of the state's ten biggest banks were rated outstanding by regulators
January 22, 2018 - Of the 77 Community Reinvestment Act ratings awarded to Massachusetts banks during 2017, only nine were “Outstanding", according to a report issued today by the Massachusetts Affordable Housing Alliance (MAHA). When each bank is classified by its most recent CRA rating, just 13.5% of all banks had a most recent rating of “Outstanding” at year-end 2017, continuing a four-year downward trend from 22.2% in 2013, and the lowest share of “Outstanding” ratings since 1993.
The report was prepared for MAHA by Jim Campen, Professor Emeritus of Economics at the University of Massachusetts at Boston and a long-time member of MAHA's Board of Directors.
MAHA's twenty-seventh annual report lists the CRA ratings assessed to all Massachusetts banks, credit unions, and mortgage companies and evaluates the performance of the three federal regulators and the Massachusetts Division of Banks in reviewing bank performance in meeting community needs.