The federal bank regulatory agencies today jointly issued a pre-recorded webinar on the interagency final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA).
The nearly one-hour video provides an overview of the new CRA rule issued on October 24, 2023, and its objectives. Additional topics in the recording include assessment areas, community development, evaluation framework, performance tests, ratings, data collection and reporting, and applicability dates.
The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their local communities, with a focus on low- and moderate-income neighborhoods, in a safe and sound manner.
View the webinar of the new CRA rule.