OCC Proposes Rescinding 2020 CRA Rule; Will Work with Fed, FDIC on Updated Regulations
The Office of the Comptroller of the Currency announced this week that it will propose rescinding its 2020 Community Reinvestment Act (CRA) rule and will work with the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) to modernize CRA regulations. The three agencies oversee regulations concerning the CRA. An interagency statement said they will work jointly to “strengthen and modernize regulations implementing” the CRA.
How CRA regulations affect the low-income housing tax credit (LIHTC) equity market will be a topic at the Novogradac 2021 Affordable Housing Tax Credit and Bond Conference, Sept. 30-Oct. 1 in Nashville, Tennessee.