Regulators begin process of undoing 2023 CRA rule

NCRC Statement on Joint FDIC, OCC and Federal Reserve Announcement of New Community Reinvestment Act Rulemaking » NCRC

A new CRA rulemaking process casts aside years of careful work that produced a compromise on modernizing the Community Reinvestment Act.

Federal regulators scrap 2023 Community Reinvestment Act rule

Three federal banking regulators announced on Wednesday the rescission of the Community Reinvestment Act (CRA) final rule issued in October 2023. The decision made by the governing boards of the Federal Reserve System, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) will result in the agencies reinstating the CRA framework that existed before October 2023. The prior rule was adopted in 1995 but …

Regulators begin process of undoing 2023 CRA rule

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a proposed rule that would revert the anti-redlining framework to its 1995 standards.