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: Promoting Earned Income Tax Credit Awareness Day
In an effort to make more eligible working families aware of the benefits of the Earned Income Tax Credit (EITC), the Office of the Comptroller of the Currency is promoting the 14th annual EITC Awareness Day on January 31. “We encourage more eligible, hard-working Americans to take advantage of this valuable tax break,” said Comptroller of the Currency…
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…
Interagency Release: Agencies Release CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examination procedures…
OCC: Mortgage Performance Improves Slightly in Third Quarter 2019
The Office of the Comptroller of the Currency (OCC) reported a slight improvement in the performance of first-lien mortgages in the federal banking system during the third quarter of 2019. The OCC Mortgage Metrics Report, Third Quarter 2019 showed 96.4 percent of mortgages included in the report were current and performing at the end of the quarter,…
FFIEC: Federal Banking Agencies Announce Availability of 2018 Small Business, Small Farm, and Community Development Lending Data
The three federal banking agency members of the Federal Financial Institutions Examination Council (FFIEC) with Community Reinvestment Act (CRA) responsibilities today announced the availability of data on small business, small farm, and community development lending reported by certain commercial banks and savings associations, pursuant to the CRA. The agencies releasing the data are the Board…
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…