Regulatory Alerts2021-03-05
Added · Updated
CA 21-5: Community Reinvestment Act Consideration for Activities in Response to the Coronavirus
The Federal Reserve, FDIC, and OCC issued five new FAQs to supplement existing guidance on CRA consideration for activities responding to the Coronavirus. These updates clarify the treatment of SBA PPP loans over $1 million, rescinded loans, and virtual community development services while providing guidance on pandemic-focused lending. This letter supersedes CA 20-10 and directs Reserve Banks to distribute the revised guidance to supervised institutions and examination staff.