May 5, 2022

Agencies Issue Joint Proposal to Strengthen and Modernize Community Reinvestment Act Regulations

Federal bank regulatory agencies today jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI) neighborhoods, in a safe and sound manner.

Building on feedback from stakeholders and research, the agencies invite public comment on their joint proposal, which has the following key elements:

Comments on the attached proposal will be accepted on or before August 5, 2022.

Related Links

This post was originally published here.