Community Reinvestment Act Regulations

Community Reinvestment Act Regulations
Subject: CRA
Agency: FDIC, OCC
Status: Proposed rule
Since becoming law in 1977, the Community Reinvestment Act (CRA) has encouraged insured depository institutions (banks) to invest trillions of dollars into the communities they serve, including low- and moderate-income (LMI) neighborhoods. The regulations implementing the law have not been extensively revised since 1995. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) propose regulations that could encourage banks to provide billions more each year in CRA-qualified lending, investment, and services by modernizing the CRA regulations to better achieve the law’s underlying statutory purpose of encouraging banks to serve their communities by making the regulatory framework more objective, transparent, consistent, and easy to understand. To accomplish these goals, this proposed rule would strengthen the CRA regulations by (1) clarifying which activities qualify for CRA credit; (2) updating where activities count for CRA credit; (3) creating a more transparent and objective method for measuring CRA performance; and (4) providing for more transparent, consistent, and timely CRA-related data collection, recordkeeping, and reporting.
FR Doc: 2019-27940
Date proposed:
Comments due date:

March 9, 2020

Final rule effective date:
Rule compliance date:
Agency release:

Related Reg Report item(s):

Proposal offers banks new flexibility in complying with anti-redlining rules under CRA

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