We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Security

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What is FFIEC Geocoding?

Mary Elizabeth
By
Updated: May 16, 2024
Views: 9,251
Share

The FFIEC is the Federal Financial Institutions Examination Council. Geocoding is a practice in which standardized tabular data is matched to a specific location on the Earth using established coordinates. FFIEC Geocoding System is a specialized system of geocoding that was developed primarily for use by certain financial institutions to meet reporting requirements. It is, however, used by others to obtain demographic information, such as data about population and income.

The FFIEC Geocoding System was created primarily for financial institutions that need to report under the Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act (CRA). All of the information that the system provides is based on street addresses. One can use it to find Metropolitan Statistical Area (MSA), State, and County information, as well as Census Tract code.

The interface of the FFIEC Geocoding System is set up to work with street addresses combined either with city and state information, on the one hand, or a ZIP code, on the other. All fields are not required, and apartment numbers must be omitted. It is important to enter the exact street name accurately: substitutions such as road for street or avenue will not work. In addition, P.O. Boxes and Rural Routes will fail.

Failures can also occur for other reasons. For example, the database of geocode information that the FFIEC Geoding System is based on may not have information for street addresses if they were added more recently. In addition, the system may give inaccurate information when there are switches in the post office responsible for mail delivery or any case in which the post office that delivers the mail does not match the ZIP code of the actual street address. In this case, the system may fail by providing the wrong MSA and census information.

If the FFIEC Geocoding System fails by not recognizing an address, there is a backup in place. An area street map is displayed, and by using a zoom feature, one may locate the cross streets nearest the address, allowing the user to find the appropriate census tract codes. Census tract maps and additional tools available at the United States Census Bureau site can provide further assistance, and serve as an additional backup.

It is important for the correct operation of the system that the appropriate date be chosen. There are three years’ worth of data to choose from. If geocoding data is needed for a year that is not an available choice, the information may be invalid.

Share
EasyTechJunkie is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Mary Elizabeth
By Mary Elizabeth
Passionate about reading, writing, and research, Mary Elizabeth is dedicated to correcting misinformation on the Internet. In addition to writing articles on art, literature, and music for EasyTechJunkie, Mary works as a teacher, composer, and author who has written books, study guides, and teaching materials. Mary has also created music composition content for Sibelius Software. She earned her B.A. from University of Chicago's writing program and an M.A. from the University of Vermont.
Discussion Comments
Mary Elizabeth
Mary Elizabeth
Passionate about reading, writing, and research, Mary Elizabeth is dedicated to correcting misinformation on the...
Learn more
Share
https://www.easytechjunkie.com/what-is-ffiec-geocoding.htm
Copy this link
EasyTechJunkie, in your inbox

Our latest articles, guides, and more, delivered daily.

EasyTechJunkie, in your inbox

Our latest articles, guides, and more, delivered daily.