The Bank Slate


Forbright Bank in Md. has CRA rating cut to ‘needs improvement’

Forbright Bank in Potomac, Md., which was recently hit with a consent order, had its Community Reinvestment Act rating downgraded to “needs improvement.”

While the consent order and the CRA downgrade both came from the Federal Deposit Insurance Corp., the issues are unrelated. The consent order for the $6.7 billion-asset bank is tied to “deficiencies and weaknesses in the supervision and direction of management” by the board.

The CRA downgrade is tied to an origination relationship with a credit-building fintech that ended in 2022, a source told Banking Dive. The source said that Forbright, which did not charge or receive revenue from the third party’s fees, is repaying impacted customers.

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