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Friday, June 15, 2018

The Office of the Comptroller of the Currency (OCC) issued a bulletin today including clarifications to supervisory policies and processes in the evaluation of community bank performance under the Community Reinvestment Act (CRA). The bulletin informs national banks, federal savings associations and federal branches and agencies about how the OCC has clarified and simplified policies. I

Thursday, June 14, 2018

The Comptroller of the Currency told the House Financial Services Committee Wednesday that his agency will modernize its regulatory approach to the Community Reinvestment Act (CRA) and reduce “unnecessary regulatory burden” on national banks and federal savings associations. Joseph M.

Wednesday, June 6, 2018

The Office of the Comptroller of the Currency (OCC) today published its schedule of Community Reinvestment Act (CRA) evaluations that will be conducted in the third and fourth quarters of 2018. Public comments on the institutions scheduled for evaluation can be submitted to the institutions themselves. The OCC said it would consider all comments received before the close of the CRA evaluation.

Friday, June 1, 2018

The Office of the Comptroller of the Currency today released a list of 32 Community Reinvestment Act (CRA) performance evaluations that became public during May. Of the 32, four are outstanding and 28 are satisfactory. The list contains only national banks, federal savings associations and insured federal branches of foreign banks.

Tuesday, May 29, 2018

Fifteen Democratic senators last week sent a letter to leaders of the three federal banking agencies, urging them to amend the Community Reinvestment Act (CRA) in a way that increases opportunity to members of minority groups.

Wednesday, May 2, 2018

The Office of the Comptroller of the Currency today released its list of Community Reinvestment Act (CRA) performance evaluations from April. There were 22 evaluations, with 20 rated as satisfactory, one rated outstanding and one rated as needs to improve. The list includes only national banks, federal savings associations and insured federal branches of foreign banks.

Wednesday, April 4, 2018

The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act (CRA) performance evaluations from March. Of the 24 evaluations made of national banks, federal savings associations and insured federal branches of foreign banks, 20 were satisfactory and four were outstanding.

Tuesday, April 3, 2018

The U.S. Department of Treasury today released several recommendations to modernize the Community Reinvestment Act (CRA). The recommendations were issued to the Office of the Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation.

Thursday, March 1, 2018

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during February. Seventeen evaluations were made public: 11 were satisfactory and six were outstanding. The list contains only national banks, federal savings associations and insured federal branches of foreign banks.

Tuesday, February 27, 2018

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) evaluations scheduled for the second and third quarters of this year.

Wednesday, February 7, 2018

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during January. Fifteen evaluations were satisfactory and one was outstanding. The list contains only national banks, federal savings associations and insured federal branches of foreign banks.

Thursday, January 25, 2018

Federal banking regulatory agencies announced today that financial institutions located anywhere in the United States may receive favorable Community Reinvestment Act consideration for bank activities that help revitalize and stabilize major disaster areas in the U.S. Virgin Islands and Puerto Rico that were affected by Hurricane Maria.

Thursday, January 4, 2018

The Office of the Comptroller of the Currency (OCC) today released a list of 15 Community Reinvestment Act (CRA) performance evaluations that became public during December. Fourteen evaluations were satisfactory and one was rated as needs to improve. The list contains national banks, federal savings associations and insured federal branches of foreign banks that received ratings.

Friday, December 22, 2017

President Donald Trump today signed the Tax Cuts and Jobs Act (H.R. 1). The legislation, which goes into effect Jan. 1, 2018, preserves the low-income housing tax credit (LIHTC), tax exemption for private activity bonds, the 2018 and 2019 new markets tax credit (NMTC) allocation application rounds, a revised historic tax credit (HTC) and existing phasedowns for the renewable energy investment tax credit (ITC) and production tax credit (PTC).

Thursday, December 21, 2017

New thresholds for the asset size used to define small bank, small savings association, intermediate small bank and intermediate small savings association under Community Reinvestment Act (CRA) regulations were released today. The required annual adjustment defines small bank or small savings association as an institution with assets of less than $1.252 billion as of Dec. 31 in either of the previous two calendar years.

Wednesday, December 20, 2017

The House of Representatives today passed the Tax Cuts and Jobs Act (H.R. 1) 224-201, with 12 Republicans against it and no Democrats voting for it. The Senate passed the legislation earlier, 51-48 on a party-line vote. The tax bill preserves the low-income housing tax credit (LIHTC), the tax exemption for private activity bonds, the 2018 and 2019 new markets tax credit (NMTC) allocation application rounds, a revised historic tax credit (HTC) and existing phasedowns for the renewable energy investment tax credit (ITC) and production tax credit (PTC).

Friday, December 15, 2017

Tax-exemption for private activity bonds, the 2018 and 2019 new markets tax credit (NMTC) allocation application rounds and a revised historic tax credit (HTC) will be retained under a final version of the Tax Cuts and Jobs Act released by a joint House-Senate conference today. The low-income housing tax credit (LIHTC) is also preserved, as are existing phasedowns for the renewable energy investment tax credit (ITC) and production tax credit (PTC).

Wednesday, December 6, 2017

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public in November for national banks, federal savings associations and insured federal branches of foreign banks. Of 29 evaluations, five were outstanding, 23 were satisfactory and one was rated as need to improve. 

Tuesday, November 28, 2017

The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations that will be conducted during the first two quarters of 2018. The OCC encourages public comment on the national banks and federal savings associations that will be evaluated and suggests that comments be submitted to the institutions at the mailing addresses listed on the schedule.

Monday, November 27, 2017

Joseph M. Otting was sworn in today as the 31st Comptroller of the Currency after being confirmed by the U.S. Senate Nov. 16. Otting was nominated by President Donald Trump in June and takes over from Keith A. Noreika, who served as the interim comptroller since May. The Office of the Comptroller of the Currency issues monthly Community Revitalization Act performance evaluations.