CRA Modernization

OCC: Acting Comptroller’s Statement on the Federal Reserve’s Action to Modernize the CRA

Acting Comptroller of the Currency Brian P. Brooks today released the following statement in appreciation of the Federal Reserve Board’s Advance Notice of Proposed Rulemaking (ANPR), which solicits stakeholder comment on how to improve Community Reinvestment Act (CRA) regulations for state-chartered banks that are members of the Federal Reserve System. We welcome the Federal Reserve’s…

ABA: Statement on the Federal Reserve’s ANPR to Modernize CRA Rules

“Today’s Advanced Notice of Proposed Rulemaking is an important step toward modernizing the Community Reinvestment Act in a manner that benefits communities and provides banks with regulatory clarity going forward. While we are still reviewing the ANPR with our members, we appreciate the Fed’s measured, research-based approach to formulating this critically important rule. “As the…

Federal Reserve: Webinar on ANPR on the Community Reinvestment Act Scheduled for Monday 9/21

Government in the Sunshine Meeting Notice Agency: Board of Governors of the Federal Reserve Time, date: 10:00 a.m., Monday, September 21, 2020 Place: Virtual Webcast Meeting – The meeting is open to the public, but due to the current coronavirus pandemic, the public may observe this Board meeting via a live webcast on the Board’s…

OCC: Acting Comptroller Hosts Access to Capital Forum in Denver to Highlight CRA Activities

Acting Comptroller of the Currency Brian Brooks today hosted an “Access to Capital Forum” in Denver to promote investment and lending in underserved areas and to highlight activities supported by the Office of the Comptroller of the Currency’s (OCC) new Community Reinvestment Act (CRA) rule. “Today, we brought together bankers, community developers, and advocates to…

FDIC: Statement by Chairman McWilliams on CRA Joint Proposed Rulemaking

Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams today released the following statement regarding the agency’s joint proposed rulemaking with the Office of the Comptroller of the Currency (OCC) to modernize the Community Reinvestment Act (CRA). “The CRA proposal the OCC and the FDIC issued last December was a culmination of a multi-year effort by…

OCC: Final Rule Issued to Strengthen and Modernize CRA Regulations

The Office of the Comptroller of the Currency (OCC) today released a final rule strengthening and modernizing the agency’s regulations under the Community Reinvestment Act (CRA). The final rule will increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant need for credit, more responsible lending, and greater access…

ABA: Statement on OCC’s CRA Final Rule

“The modernization of CRA’s outdated rules is long overdue, and we are very grateful to Comptroller Otting and the OCC staff for their commitment to this important effort. Stakeholders on all sides have acknowledged that the current CRA regime has failed to keep pace with the evolution of banking and community needs. We appreciate that…

OCC: Comptroller Thanks Stakeholders for Comments on the Proposal to Modernize CRA Regulations

Comptroller of the Currency Joseph M. Otting today issued the following statement thanking stakeholders for their comments on the proposal to strengthen and modernize the regulatory framework implementing the Community Reinvestment Act. I want to thank all of the stakeholders who have submitted more than 7,400 thoughtful and helpful comments regarding the Office of the…

OCC: Comptroller Tours Memphis to Discuss Community Reinvestment

Comptroller of the Currency Joseph Otting and Operation HOPE Founder, Chairman, and Chief Executive Officer John Hope Bryant today led a community tour of Memphis to highlight successful examples of and opportunities for financing community reinvestment, economic revitalization, and financial empowerment. The community tour brought together more than 60 bankers and community leaders, including Memphis…

FDIC & OCC: 30-day Extension of Comment Period for Proposed Changes to CRA Regulations Announced

The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the regulations implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA…