OCC: Bulletin Issued on Interagency Notice of Proposed Rulemaking to Implement the CRA
On May 5, 2022, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Federal Reserve Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the agencies) issued a joint notice of proposed rulemaking to strengthen and modernize the Community Reinvestment Act (CRA) regulatory framework. The proposed…
OCC: Acting Comptroller’s Statement on Interagency Proposal to Modernize the CRA Issued
Acting Comptroller of the Currency Michael J. Hsu issued the following statement at today’s Federal Deposit Insurance Corporation (FDIC) board meeting to consider the interagency notice of proposed rulemaking (NPR) to strengthen and modernize the Community Reinvestment Act (CRA). Today marks an important milestone in our efforts to expand financial access and inclusion for low-and…
Agencies Issue Joint Proposal to Strengthen and Modernize Community Reinvestment Act Regulations
Federal bank regulatory agencies today jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI)…
CFPB: Statement of CFPB Director Chopra on the Notice of Proposed Rulemaking Regarding the CRA
Today, the Board of Directors of the Federal Deposit Insurance Corporation is voting to seek public comment on a Notice of Proposed Rulemaking to update the Community Reinvestment Act framework for certain state-chartered banks.1 I am voting in favor of the Notice of Proposed Rulemaking, particularly because of the potential it holds to assist rural…
ABA: Statement on Joint Agency Community Reinvestment Act Proposal
“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 to develop a regulatory framework…
OCC: FFIEC’s 2022 “A Guide to HMDA Reporting: Getting It Right!” Released
The Office of the Comptroller of the Currency (OCC) is announcing the issuance of the Federal Financial Institutions Examination Council’s (FFIEC) revised “A Guide to HMDA Reporting: Getting It Right!” (2022 guide). The 2022 guide provides resources to help banks1 comply with the Home Mortgage Disclosure Act (HMDA) and Regulation C, its implementing regulation (12 CFR…