OCC Issues Final Rule Rescinding 2020 CRA Rule, Reinstating Previous Version
The Office of the Comptroller of the Currency (OCC) today issued a final rule to rescind the Community Reinvestment Act (CRA) rule it issued in June 2020. Today’s action replaces the 2020 rule with a rule based on rules adopted by the OCC, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) in 1995, as amended. The final rule applies to national banks, federal savings associations and state savings associations. The updated rule takes effect Jan. 1, 2022.
Federal housing regulation and legislation will be a topic at the Novogradac 2022 Affordable Housing Developers Conference, Jan 13-14, 2022, in San Juan, Puerto Rico.