Regulatory Alerts2022-06-03 | 2022-10111Community Reinvestment Act
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency propose amendments to their regulations implementing the Community Reinvestment Act of 1977. The proposal introduces a new evaluation framework with distinct performance tests for large, intermediate, small, and wholesale banks to update how CRA activities qualify, are considered, and are evaluated. These changes aim to strengthen the statute's core purpose, adapt to modern banking practices, and provide greater clarity and consistency in regulatory assessments.
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