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The Office of the Comptroller of the Currency announced this week that it will propose rescinding its 2020 Community Reinvestment Act (CRA) rule and will work with the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) to modernize CRA regulations. The three agencies oversee regulations concerning the CRA. An interagency statement said they will work jointly to “strengthen and modernize regulations implementing” the CRA.
The Office of the Comptroller of the Currency (OCC) released a list of 16 Community Reinvestment Act (CRA) performance evaluations that became public in June. Eleven ratings were satisfactory and five were outstanding. The rankings are for national banks, federal savings associations and insured federal branches of foreign banks.
The board of governors of the Federal Reserve System (Fed) and Federal Deposit Insurance Corporation (FDIC) released the list of distressed or underserved nonmetropolitan middle-income geographies for 2021, which makes revitalization or stabilization activities in those areas eligible for Community Reinvestment Act (CRA) consideration. The designations reflect local economic conditions, including unemployment, poverty and population changes. The Fed and FDIC continue to apply a one-year lag period for areas listed in 2020 that are no longer designated as distressed or underserved, making revitalization or stabilization activities in those geographies eligible for CRA condensation for 12 months after the publication of the current list.
The Office of the Comptroller of the Currency released a list of 18 Community Reinvestment Act (CRA) performance evaluations made public in May. Eleven were rated satisfactory and seven 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, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today published a statement that extends for 36 months the period for favorable Community Reinvestment Act (CRA) regulation consideration for bank activities that help revitalize or stabilize disaster areas in Puerto Rico and the U.S. Virgin Islands hit by Hurricane Maria. The extension now lasts through Sept. 20, 2023, and applies to institutions located outside of the areas.
The Office of the Comptroller of the Currency (OCC) today announced that it will reconsider its final rule to modernize the agency’s regulations for the Community Reinvestment Act (CRA) and will not implement much of the evaluation criteria in the May 2020 rule. The announcement, in OCC Bulletin 2021-24, says the OCC will continue to implement certain provisions that had a compliance date of Oct. 1, 2020. OCC issued the final rule after stakeholders provided more than 7,500 comments–most of them in opposition to the final rule.
The Office of the Comptroller of the Currency (OCC) Tuesday released Community Reinvestment Act performance evaluations made public in April. Of the 15 national banks, federal savings associations and insured federal branches of foreign banks, 12 were rated satisfactory and three were rated outstanding.
The Office of the Comptroller of the Currency released a list of Community Reinvestment Act (CRA) performance evaluations made public in March, with 14 of the 15 institutions receiving ratings of satisfactory or outstanding. One institution received a needs-to-improve rating. The list contains only 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 13 Community Reinvestment Act (CRA) performance evaluations that became public in February. The list contains national banks, federal savings associations and insured federal branches of foreign banks.
The Office of the Comptroller of the Currency (OCC) last week released its schedule of Community Reinvestment Act (CRA) evaluations for the second and third quarter of 2021. The OCC encourages public comment on the national banks and federal savings associations evaluated under the CRA. Public comments should be submitted to the financial institutions at the mailing addresses on the schedule or to the appropriate OCC office before the month for which the evaluation is scheduled.
The Office of the Comptroller of the Currency (OCC) Tuesday released Community Reinvestment Act (CRA) performance evaluations that became public in January. The 21 evaluations of national banks, federal savings associations and insured federal branches of foreign banks included 15 satisfactory ratings and six outstanding ratings.
The Office of the Comptroller of the Currency (OCC) today released a bulletin that includes criteria to determine a bank’s size based on its asset size or business model for 2021, a list of distressed and underserved areas where certain bank activities for 2021 are eligible for Community Reinvestment Act (CRA) consideration and the banking industry median hourly compensation value used for determining the dollar value of community development service activities this year. OCC Bulletin 2021-5 publishes the lists and hourly compensation value pursuant to the CRA rule published in June 2020.
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.
The Office of the Comptroller (OCC) last week released a list of Community Reinvestment Act (CRA) performance evaluations that became public in November.
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.
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.
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.
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.
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.
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.
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