Agencies Finalize Rule Updating and Modernizing the Community Reinvestment Act
On October 24, 2023, the FDIC Board voted to approve a final rule, to be issued jointly with the Board of Governors of the Federal Reserve System (Federal Reserve) and the Office of the Comptroller of the Currency (OCC), that makes comprehensive regulatory amendments to the FDIC’s regulation implementing the Community Reinvestment Act of 1977…
FDIC: CRA Examination Schedules for First Quarter 2024 and Second Quarter 2024 Issued
The Federal Deposit Insurance Corporation (FDIC) today issued the lists of institutions scheduled for a Community Reinvestment Act (CRA) examination during the first quarter 2024 and second quarter 2024. CRA regulations require each federal bank and thrift regulator to publish its quarterly CRA examination schedule at least 30 days before the beginning of each quarter. …
OCC: First and Second Quarter 2024 CRA Evaluation Schedule Issued
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first and second quarters of 2024. The OCC encourages public comment on the national banks and federal savings associations (collectively, banks) scheduled to be evaluated under the CRA. Public comments should…
Federal Reserve: Michal Barr Delivers “Serving Indian Country with the Modernized Community Reinvestment Act” Speech
Vice Chair for Supervision Michael S. Barr At the Modernized Community Reinvestment Act and Indian Country, the Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota (virtual) “Good afternoon. I’m grateful for the opportunity to join you today as we discuss the updated Community Reinvestment Act regulations and what they mean for Indian Country. The Community Reinvestment…
OCC: CRA Evaluations for 24 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 October 1, 2023, through October 31, 2023. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The…
CFPB: New Report Issued on State Community Reinvestment Laws
State Community Reinvestment Acts demonstrate how states promote reinvestment activities for banks, credit unions and mortgage companies Today, the Consumer Financial Protection Bureau (CFPB) published a new analysis on state Community Reinvestment Act laws, highlighting how states ensure financial institutions’ lending, services, and investment activities meet the credit needs of their communities. The report examined…
ABA: Statement on Community Reinvestment Act Final Rule
“ABA and our members have long supported the goals of the Community Reinvestment Act to make sure people in every corner of the country have the chance to succeed. In demonstration of that commitment, banks of all sizes invested $287 billion in capital in low- and moderate-income areas in 2021 alone. We have also strongly…