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 agencies seek to update how CRA activities qualify for consideration, where they are evaluated, and the specific performance tests applied to banks of different sizes and business models. This joint notice of proposed rulemaking establishes a new evaluation framework featuring distinct tests for retail lending, retail services, and community development financing to better align with modern banking practices and community needs.
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