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PUBLIC HEARINGS ON COMMUNITY REINVESTMENT ACT REGULATIONS ANNOUNCED

Thursday, June 17, 2010 - 1:15AM

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and the Office of Thrift Supervision announced today that the agencies will hold four public hearings on modernizing the regulations that implement the Community Reinvestment Act (CRA). The hearings will focus on regulatory, rather than statutory, changes and address the following topics: geographic coverage; performance tests, asset thresholds and designations; affiliate activities; community development; ratings and incentives; and disclosures and performance evaluations. Interested parties must register for the hearings and are encouraged to provide written copies of their testimony in advance. People may also submit written comments through August 31, 2010. Dates and locations of the hearings are available here. A formal notice about the hearings will also be published in the Federal Register.

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