Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations

At the National Housing Conference National Advisory Council Meeting I want to thank David Dworkin for inviting me to participate in this discussion. I am pleased to be with you to talk about Community Reinvestment Act (CRA) modernization and how this process can help address the housing challenges facing minority […]

Federal Reserve: Speech by Governor Brainard on Strengthening CRA Provisions Related to Minority Depository Institutions

I want to thank Kim Saunders and Kenneth Kelly for inviting me to join members of the National Bankers Association (NBA) for a conversation today.1 As mission-driven financial institutions with a focus on serving minority households and businesses, you see the significant racial disparities in our economy every day. Going […]

Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations

Thank you for inviting me here today to take part in your Fall Leadership Meeting.1 We recognize that community banks play a vital role in the communities you serve. Your insights into local conditions and your long-standing customer relationships afford you a deep understanding of the needs and characteristics of […]

OCC: New CRA Modernization Resources Released

Summary The Office of the Comptroller of the Currency (OCC) today issued three items required to support the implementation of the Community Reinvestment Act (CRA) rule the agency issued on June 5, 2020 (2020 rule). Note for Community Banks The “Community Reinvestment Act 2020 Rule Small Bank Compliance Guide” and […]

OCC: CRA Evaluations for 12 National Banks and Federal Savings Associations Released

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of September 1, 2020 through September 30, 2020.  The list contains only national banks, federal savings associations, and insured federal branches of foreign banks […]

Federal Reserve: ANPR Issued on Approach to Modernize CRA Regulations

The Federal Reserve Board on Monday issued an Advance Notice of Proposed Rulemaking (ANPR) that invites public comment on an approach to modernize the regulations that implement the Community Reinvestment Act (CRA) by strengthening, clarifying, and tailoring them to reflect the current banking landscape and better meet the core purpose […]

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. […]

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 […]