OCC: Implementation of June 2020 CRA Final Rule Being Reconsidered
The Office of the Comptroller of the Currency (OCC) published in the Federal Register on June 5, 2020, a final rule (June 2020 rule) to modernize the agency’s regulations under the Community Reinvestment Act (CRA). The OCC has determined that it will reconsider the June 2020 rule. While this reconsideration is ongoing, the OCC will not object…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strenghening CRA Regulations
At the Consumer Bankers Association Community Reinvestment Act Committee Meeting Good afternoon and thank you for inviting me to take part in the Consumer Bankers Association’s (CBA’s) Community Reinvestment Act (CRA) Committee meeting. The CRA officers and teams at your institutions play an important role in identifying community priorities and building partnerships with stakeholders to…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations
At The Chicago Community Trust, Chicago, Illinois Good morning. I want to thank Dr. Helene Gayle for inviting me to join this conversation, along with the staff, grantees, and partners of the Chicago Community Trust and President Charlie Evans of the Federal Reserve Bank of Chicago. I appreciate the opportunity to discuss economic inclusion and…
OCC: Proposed Rule Issued Regarding the CRA General Performance Standards
The Office of the Comptroller of the Currency (OCC) today invited comment on a notice of proposed rulemaking regarding the Community Reinvestment Act’s (CRA) general performance standards. The OCC published a final rule in June 2020 to strengthen and modernize the agency’s regulations under the CRA to encourage banks to engage in more activities to serve the…
Federal Reserve: Webinar Scheduled for December 16th on Proposal to Modernize CRA
Every community deserves the opportunity to thrive. Our economy depends on it. Modernizing the Community Reinvestment Act (CRA) is an opportunity to address systemic barriers to credit and financial services that continue to hold many communities back. Join us on 12/16 at 10:00 a.m. PT to learn about the Fed’s proposed changes and how you can…
Federal Reserve: Speech by Governor Brainard on Modernizing and Strengthening CRA Regulations
At the National Congress of American Indians 77th Annual Convention & Marketplace (via webcast) Good afternoon and thank you to President Fawn Sharp and Kevin Allis of the National Congress of American Indians (NCAI) for inviting me to join your discussion.1 As the oldest and largest American Indian and Alaska Native organization serving the broad interests…
OCC: Key Provisions of the June 2020 CRA Rule and Frequently Asked Questions
Summary The Office of the Comptroller of the Currency (OCC) published in the Federal Register on June 5, 2020, a final rule1 (June 2020 rule) that strengthens and modernizes the agency’s regulations under the Community Reinvestment Act (CRA). This bulletin summarizes key provisions of the June 2020 rule, which became effective October 1, 2020. This bulletin provides responses…
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 and low- and moderate-income (LMI)…