OCC, FDIC Release Notice of Proposed Rulemaking for CRA Reform

Thursday, December 12, 2019 - 1:15pm

The Office of the Comptroller of the Currency (OCC) today released a notice of proposed rulemaking to reform the Community Reinvestment Act (CRA) regulations. The OCC was joined by the Federal Deposit Insurance Corporation, which is one of three federal regulators that oversee the CRA. The Federal Reserve Board of Governors did not sign on. The proposed rule addresses what qualifies for CRA consideration, how the geography of CRA activity is measured, numeral measurements for CRA and transparency of CRA reporting. There is a 60-day comment period on the rule from the date it is published in the Federal Register.