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…
FDIC: Agencies Issue Final Rule to Strengthen and Modernize Community Reinvestment Act Regulations
Federal bank regulatory agencies today jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, especially in low– and…
Federal Reserve: Agencies Issue Final Rule to Strengthen and Modernize Community Reinvestment Act Regulations
Federal bank regulatory agencies today jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, especially in…
CFPB: Statement on the Final Rule Implementing the Community Reinvestment Act
Banks are not ordinary businesses. They are critical infrastructure of the economy. This is why we provide them with many public benefits, and in exchange, they have obligations to meet the “convenience and needs” of the communities they serve. The final rule is the product of compromise between the Federal Deposit Insurance Corporation, the Office…
OCC: Acting Comptroller Issues Statements on FDIC Board Meeting on CRA and Climate-Related Financial Risk Management
Acting Comptroller of the Currency Michael J. Hsu today issued statements at the Federal Deposit Insurance Corporation Board Meeting in support of rulemakings on the Community Reinvestment Act (CRA) and the finalization of interagency principles for climate-related financial risk management for large banks. In his remarks, Mr. Hsu discussed how modernizing and strengthening the CRA…