“America’s banks are in the business of investing in the communities they serve and creating economic opportunity. In that spirit, we welcome today’s joint proposal by the FDIC, the Federal Reserve and the OCC to modernize regulations under the Community Reinvestment Act. We particularly appreciate that the agencies are trying […]
The Office of the Comptroller of the Currency (OCC) today issued responses to frequently asked questions (FAQ) about the December 2021 final rule1 to rescind the OCC’s Community Reinvestment Act (CRA) rule issued on June 5, 2020 (June 2020 CRA rule).2 The December 2021 CRA final rule, effective January 1, 2022, replaced […]
Acting Comptroller of the Currency Michael J. Hsu today discussed the history of the Community Reinvestment Act (CRA) with the National Community Reinvestment Coalition. His remarks highlighted how a modernized CRA can help address persistent disparities and gaps in wealth and economic opportunities in minority, rural, and other vulnerable communities. […]
Federal Deposit Insurance Corporation (FDIC) Acting Chairman Martin J. Gruenberg released this morning the following statement and summary of the FDIC’s priorities for the coming year: “The FDIC’s core mission is to maintain stability and public confidence in the U.S. financial system. The FDIC carries out this mission through its […]
On December 14, 2021, the Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly by the federal banking agencies in 1995, as amended. The final […]
The Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly by the Federal banking agencies in 1995, as amended. This action is intended to facilitate the ongoing […]
The Office of the Comptroller of the Currency (OCC) is soliciting comments on proposed rules to rescind the Community Reinvestment Act (CRA) rule issued in 2020 and replace it with rules adopted jointly by the Federal banking agencies in 1995, as amended. This action facilitates the ongoing interagency work to […]
The Federal Reserve Board on Tuesday announced it is committed to working together with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to jointly strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). “We are delighted to work together to develop […]
The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) are committed to working together to jointly strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The agencies have broad authority and responsibility for implementing the CRA. Joint agency […]
The Office of the Comptroller of the Currency (OCC) today announced it will propose rescinding the Community Reinvestment Act (CRA) rule issued in May 2020 and is committed to working with the Federal Reserve (Board) and the Federal Deposit Insurance Corporation (FDIC) to put forward a joint rulemaking that strengthens […]