Recent News
The three major federal bank regulatory agencies today issued a joint notice of proposed rulemaking to strengthen and modernize Community Reinvestment Act (CRA) regulations. The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Fed) and Federal Deposit Insurance Corporation (FDIC) jointly issued the proposal, which would be the first significant interagency revision to the CRA since 1995. The proposal would adopt a metrics-based approach to CRA evaluation of retail lending and community development financing that includes public benchmarks. The rule would also clarify eligible CRA activities that are focused on low- and moderate-income, rural and underserved communities, including affordable housing.
The Office of the Comptroller of the Currency (OCC) today released 23 Community Reinvestment Act (CRA) evaluations made public in April. Six were rated outstanding, 17 were satisfactory. The list of evaluations contains national banks, federal savings associations and insured federal branches of foreign banks. The possible ratings are outstanding, satisfactory, needs to improve and substantial noncompliance.
The Office of the Comptroller of the Currency (OCC) released a list of Community Reinvestment Act (CRA) performance evaluations made public in March. Of the 23 evaluations made public, 21 were satisfactory and two were outstanding. The list contains national banks, federal savings associations and insured federal branches of foreign banks.
The Office of the Comptroller of the Currency (OCC) released a list of 11 Community Reinvestment Act (CRA) evaluations made public in February–10 satisfactory and one outstanding. The list includes national banks, federal savings associations and insured federal branches of foreign banks.
Martin J. Gruenberg, acting chair of the Federal Deposit Insurance Corporation (FDIC), today released a statement of the FDIC’s priorities for the coming year, including strengthening the Community Reinvestment Act (CRA). Gruenberg’s statement featured five areas of emphasis: strengthening the CRA, addressing financial risks posed by climate change, reviewing the bank merger process, evaluating crypt-asset risks and finalizing the Basel III capital rule.
