All News

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.

Tuesday, April 7, 2020

The National Low Income Housing Coalition (NLIHC) today released an analysis showing that Congress must invest up to $100 billion over the next year to keep lowest-income households stably housed in the wake of the COVID-19 pandemic.

Monday, April 6, 2020

The Office of the Comptroller of the Currency last week made public 28 Community Reinvestment Act performance evaluations from March. Twenty-two evaluations were satisfactory and six were outstanding. The evaluations were for national banks, federal savings associations and insured federal branches of foreign banks.

Friday, March 27, 2020

President Donald Trump today signed the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), a $2 trillion bill that includes financial aid to individuals, businesses, nonprofits and state and local governments.

Friday, March 27, 2020

The House of Representatives today passed the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), by a voice vote, sending the bill to President Donald Trump, who has said he would immediately sign the legislation. The $2 trillion bill includes financial aid to individuals, businesses, nonprofits and state and local governments.

Thursday, March 26, 2020

The House of Representatives will take up discussion of the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), after the Senate passed the COVID-19 relief legislation by a 96-0 vote last night. The House is expected to vote by Friday and President Donald Trump has said he would sign the legislation.

Wednesday, March 25, 2020

Novogradac’s Michael J. Novogradac, CPA, and Peter Lawrence detail in a blog post provisions of the nearly $2 trillion COVID-19 legislation that the U.S. Senate is considering. The post explains provisions in the so-called Phase 3 COVID-19 legislation concerning individuals and businesses, and provides an overview of supplemental appropriations in the legislation.

Thursday, March 19, 2020

President Donald Trump signed legislation late Wednesday that includes free testing for COVID-19, paid leave benefits for many workers and a boost in unemployment and food assistance. The Families First Coronavirus Response Act (H.R. 6201) was passed by both chambers of Congress and signed into law in seven days.

Thursday, March 19, 2020

The three agencies that oversee compliance with the Community Reinvestment Act (CRA) today released a letter encouraging financial institutions to work with customers and communities affected by the COVID-19 pandemic, particularly in low- and moderate-income communities.

Wednesday, March 18, 2020

The U.S. Senate today passed legislation that includes free testing for COVID-19 and paid leave benefits for many Americans affected by the pandemic, sending the legislation to President Donald Trump’s desk.

Monday, March 16, 2020

Novogradac has a new web page with legislation, guidance and other information on how federal and state responses to the COVID-19 pandemic affect affordable housing, community development and renewable energy communities. There are sections dedicated to the low-income housing tax credit, the U.S.

Thursday, March 5, 2020

The Office of the Comptroller of the Currency this week released a list of Community Reinvestment Act performance evaluations made public in February. Of 19 evaluations made public, 18 were satisfactory and one was outstanding. The list contains only national banks, federal savings associations and insured federal branches of foreign banks.

Monday, March 2, 2020

The Office of the Comptroller of the Currency (OCC) released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarter of 2020. The OCC encourages comment on the national banks and federal savings associations that will be evaluated under the CRA.

Wednesday, February 19, 2020

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today extended the period for public comment on their joint notice of proposed rulemaking to update Community Reinvestment Act regulations. The FDIC and OCC will now accept comments until April 8, 30 days later than the original deadline.

Wednesday, February 5, 2020

The Office of the Comptroller of the Currency today released a list of Community Reinvestment Act (CRA) performance evaluations made public in January. Of 28 evaluations, 21 were satisfactory and seven were outstanding. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

Wednesday, January 8, 2020

The Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation will publish their joint notice of proposed rulemaking for updated Community Reinvestment Act (CRA) regulations in Thursday’s Federal Register. The proposed CRA regulations were made public Dec. 12, 2019.

Monday, January 6, 2020

The Office of the Comptroller of the Currency last week released a list of Community Reinvestment Act performance evaluations made public in December. Of 24 evaluations made public, 16 were satisfactory and eight were outstanding. The list contains national banks, federal savings associations and insured federal branches of foreign banks.

Friday, December 27, 2019

The Office of the Comptroller of the Currency, Federal Reserve System and Federal Deposit Insurance Corporation will publish in Monday’s Federal Register a joint final rule adjusting asset-size thresholds for small bank/small savings association and intermediate small bank/intermediate small savings association in Community Reinvestment Act regulations. Beginning Jan. 1, 2020, banks and savings associations that as of Dec.

Thursday, December 12, 2019

The Office of the Comptroller of the Currency (OCC) today released a notice of proposed rulemaking to reform the Community Reinvestment Act (CRA) regulations. The OCC was joined by the Federal Deposit Insurance Corporation, which is one of three federal regulators that oversee the CRA. The Federal Reserve Board of Governors did not sign on.

Thursday, December 12, 2019

Every Democratic member of the House Financial Services Committee and the Senate Committee on Banking, Housing and Urban Affairs signed a letter demanding adequate time to review and offer input on proposed changes to framework of the Community Reinvestment Act (CRA).