OCC Seeks Comments on Investment Notification Regulations
The Office of the Comptroller of the Currency (OCC) is requesting comments on regulations governing the investment by national banks in community development institutions, required under the Community Reinvestment Act (CRA). The rules address investments made without prior approval of the OCC–which under current regulations are approved under certain circumstances if the national bank makes an after-the-fact notification to the OCC within 10 days. The comment request is part of the routine review process required by the Paperwork Reduction Act of 1995. Comments are due within 60 days of the publication in the Federal Register.