All News

Friday, January 8, 2021

The Office of the Comptroller of the Currency (OCC) Thursday released a list of 23 Community Reinvestment Act (CRA) performance evaluations made public in December 2020. Sixteen evaluations were rated satisfactory and seven were outstanding. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

Monday, December 7, 2020

The Office of the Comptroller (OCC) last week released a list of Community Reinvestment Act (CRA) performance evaluations that became public in November.

Friday, December 4, 2020

The Office of the Comptroller of the Currency (OCC) today published a notice of proposed rulemaking requesting comment on its approach to determine Community Reinvestment Act (CRA) measurement thresholds.

Tuesday, November 3, 2020

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations made public in October. Of the 22 evaluations made public, 16 are satisfactory and six are outstanding. The list contains national banks, federal savings associations and insured branches of foreign banks.

Monday, October 19, 2020

The Federal Reserve Board today published in the Federal Register an advance notice of proposed rulemaking (ANPR) for modernizing Community Reinvestment Act (CRA) regulations. The Fed seeks public comment on methods to evaluate how banks meet the needs of low- and moderate-income communities.

Monday, October 5, 2020

The Office of the Comptroller of the Currency last week released a list of 12 Community Reinvestment Act (CRA) performance evaluations from September. Ten were rated satisfactory, one was outstanding and one was rated as needs to improve. The evaluations are of national banks, federal savings associations and insured federal branches of foreign banks.

Tuesday, September 22, 2020

A Novogradac special report released today examines the implications of a Democratic sweep of the House of Representatives, Senate and White House in November’s election.

Monday, September 21, 2020

The Federal Reserve Board today unanimously approved an advance notice of proposed rulemaking (ANPR) and published a press release on an approach to modernize Community Reinvestment Act (CRA) regulations.

Friday, September 4, 2020

The Office of the Comptroller of the Currency (OCC) this week released 20 Community Reinvestment Act (CRA) performance evaluations for August.

Wednesday, August 26, 2020

The Office of the Comptroller of the Currency (OCC) today published a community developments fact sheet explaining the opportunity zones (OZ) incentive to national banks and federal savings associations, including how OZ activities may be used to support a bank’s community and economic development strategies.

Friday, August 7, 2020

Nine national banks, federal savings associations and insured federal branches of foreign banks received outstanding Community Reinvestment Act (CRA) performance evaluations in July from the Office of the Comptroller of the Currency, the OCC announced today. The other 21 evaluations made in July were satisfactory.

Monday, July 6, 2020

The Office of the Comptroller of the Currency released a list of 21 Community Reinvestment Act (CRA) performance evaluations made in June, with 11 rated satisfactory, nine outstanding and one as needs to improve. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

 

Wednesday, June 3, 2020

The Office of the Comptroller of the Currency released Tuesday a list of Community Reinvestment Act (CRA) performance evaluations made in May. Of the 17 CRA evaluations made public, 14 were satisfactory and three were outstanding. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

Wednesday, May 20, 2020

The Office of the Comptroller of the Currency (OCC) today published a final rule amending Community Reinvestment Act (CRA) regulations, six weeks after the comment period closed on the proposed rule, which received more than 7,500 comments.

Tuesday, May 12, 2020

House Democrats today unveiled a $3 trillion COVID-19 relief bill, their proposal for “Phase 4” of pandemic relief legislation. The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would provide nearly $1 trillion to state and local governments to avert layoffs and $200 billion in hazard pay for essential workers.

Monday, May 4, 2020

The Internal Revenue Service issued a notice that clarifies that taxpayers are not allowed a deduction for an expense if payment of the expense results in forgiveness of a Paycheck Protection Program (PPP) loan, and the income associated with the forgiveness is excluded from gross income.

Monday, May 4, 2020

The Office of the Comptroller of the Currency released a list of Community Reinvestment Act performance evaluations from April. Of the 20 national banks, federal savings associations and insured federal branches of foreign banks that were evaluated, 16 were rated satisfactory and four were rated outstanding.

Thursday, April 30, 2020

The Internal Revenue Service will publish a revenue procedure May 18 to temporarily allow taxpayers to electronically submit requests for private letter rulings and other guidance. Revenue Procedure 2020-29 modifies an earlier revenue procedure and will allow both paper and electronic requests for advice until Revenue Procedure 2020-29 is modified or superseded.

Wednesday, April 22, 2020

The House of Representatives is expected to vote Thursday morning on a $484 billion COVID-19 relief bill that includes $380 billion for small businesses, $75 billion for hospitals and $25 billion for disease testing.

Thursday, April 9, 2020

Three tax incentive working groups led by Novogradac submitted comment letters to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, asking the agencies to make significant changes to their joint notice of proposed rulemaking for Community Reinvestment Act (CRA) regulations.