CRA Oversight Agencies Encourage Work with Pandemic-Affected Communities

Thursday, March 19, 2020 - 11:15AM

The three agencies that oversee compliance with the Community Reinvestment Act (CRA) today released a letter encouraging financial institutions to work with customers and communities affected by the COVID-19 pandemic, particularly in low- and moderate-income communities. The Federal Reserve Board, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency jointly said they will provide favorable CRA consideration of certain banking services, retail lending activities and community development activities related to the national emergency.

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