Regulatory Alerts2020-10-19 | 2020-21227Added · Updated
Community Reinvestment Act
The Board of Governors of the Federal Reserve System issued an advance notice of proposed rulemaking to solicit public input on modernizing the Community Reinvestment Act regulatory framework. The proposal aims to better meet the needs of low- and moderate-income communities by updating assessment areas, evaluation tests, and data collection requirements while addressing historical inequities in credit access. Comments on these potential changes to Regulation BB are requested by February 16, 2021.