FDIC & OCC Issue Joint Proposal Amending the Community Reinvestment Act Rules
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (the agencies) today proposed targeted changes to their current rules implementing the Community Reinvestment Act (CRA) to better align with the statutory mandate; better ensure that community development grants reach the communities they are intended to benefit; reduce burden for banks,…
ABA: Statement Issued on Joint OCC/FDIC Community Reinvestment Act Rule Proposal
“Today’s joint proposal from the FDIC and OCC marks progress toward a Community Reinvestment Act framework that provides banks with greater clarity to plan and deliver loans and investments that reflect local needs, bank business strategies and today’s banking landscape. While we are continuing to review it closely, we are pleased that the proposal would…
Agencies Issue Joint Proposal to Rescind 2023 Community Reinvestment Act Final Rule
Federal bank regulatory agencies today jointly issued a proposal to rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and replace it with the prior CRA regulations that were originally adopted by the agencies in 1995, with certain technical amendments. If adopted, the proposal would restore certainty in the CRA framework for…
ICBA: ICBA Applauds Agencies for Proposing to Rescind Harmful CRA Rule
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s announcement that the federal banking regulators intend to issue a proposal to rescind the Community Reinvestment Act final rule issued in October 2023 and reinstate the CRA framework that existed prior to that final rule, in light of pending…
Agencies Announce Intent to Rescind 2023 CRA Final Rule
The federal bank regulatory agencies today announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA framework that existed prior to the October 2023 final rule. The agencies will continue to work together to promote…
ABA: Trade Groups Welcome Decision to Rescind 2023 CRA Final Rule
The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce issued the following statement after federal banking agencies announced their intent to rescind the 2023 Community Reinvestment Act Final Rule: “We welcome today’s announcement…
findCRA to Lead CRA Session at the Arkansas Community Bankers Association’s 2024 Compliance Conference in Little Rock
findCRA will be onsite on September 11th at the annual Arkansas Community Bankers Association’s 2024 Compliance Conference in Little Rock. During the conference, findCRA’s President, COO & Co-Founder, will lead a general session covering the 2024 CRA final rule and its potential impacts to bankers within the state. The session will also dive into best practices for…
ABA: Trade Groups Welcome Injunction Delaying CRA Rules Implementation
The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce issued the following statement after the decision by the Northern District of Texas late Friday to pause implementation of the Community Reinvestment Act Final…