HUD Issues Income Data for Use In Banks’ CRA Performance Exams
July 14, 2003
The latest U.S. census and median family income data have been released to banks for determining borrower income levels in Community Reinvestment Act performance evaluations. The CRA classifies the income level of an individual or a geographic area, also known as a “metropolitan statistical area,” as low-, moderate-, middle, or upper-income, based on the area median income.