OCC Offers Guidance for Wholesale, Limited-Purpose Status under CRA

Thursday, August 1, 2019 - 10:30am

The Office of the Comptroller of the Currency this week issued a bulletin including guidelines for requesting a designation as a wholesale or limited-purpose bank for Community Reinvestment Act (CRA) purposes. OCC Bulletin 2019-40 applies to national banks, federal savings associations and federal branches of banking organizations subject to the CRA. The bulletin also offers guidelines on how to request confirmation of an exemption as a special-purpose bank under CRA regulations.