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.

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.

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.

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.

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.

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.

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.

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.

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.