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“The modernization of CRA’s outdated rules is long overdue, and we are very grateful to Comptroller Otting and the OCC staff for their commitment to this important effort.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…
OCC: FDIC & OCC Announce 30-day Extension of Comment Period for Proposed Changes to CRA Rules
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 rules 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…
OCC: Comptroller Discusses Efforts to Strengthen CRA Regulations, Condition of the Federal Banking System
Comptroller of the Currency Joseph M. Otting today testified during a hearing held by the House Financial Services Committee. The Comptroller’s testimony discussed efforts to strengthen and modernize Community Reinvestment Act regulations, the condition of the federal banking system, the agency’s diversity and inclusion programs, and work to implement regulatory reform that encourages economic opportunity…
OCC: Request for Information Regarding CRA Proposed Rule
On January 9, 2020, the OCC and the Federal Deposit Insurance Corporation (the agencies) published a notice of proposed rulemaking that would amend their regulations implementing the Community Reinvestment Act (CRA). The OCC seeks public input with this request for information to assist in determining how the proposed rule might be revised to ensure that…
FDIC: Agencies Propose to Modernize CRA Regulations
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been substantively updated for nearly 25 years. The proposed rules are intended to increase bank activity in low- and moderate-income communities…
OCC: FDIC and OCC Propose to Modernize CRA Regulations
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been substantively updated for nearly 25 years. The proposed rules are intended to increase bank activity in low- and moderate-income communities…