Applicability Date Extension for parts of CRA’s Final Rule

On March 21, 2024, the FDIC, FED, and OCC jointly issued an interim final rule that extends the applicability date of certain provisions in their Community Reinvestment Act (CRA) final rule issued in October 2023. The agencies also requested comments on the extension.

The agencies extended the applicability date of the facility-based assessment areas and public file provisions from April 1, 2024, to January 1, 2026. Therefore, banks will not have to make changes to their assessment areas or their public files as a result of the 2023 CRA final rule until January 1, 2026. This extension aligns these provisions with other substantive parts of the 2023 CRA final rule that are applicable on January 1, 2026. For example, all provisions about where banks are evaluated will now apply on the same date. Comments on the extended applicability date must be received 45 days after the rule is published in the Federal Register.

To learn more about the New CRA, check out this 4-part series I presented earlier this year. It was carefully crafted to provide a deeper understanding of CRA Modernization, its breadth, and how it impacts your institution. But please note, some of the implementation timelines shared in the series may need to be adjusted to accommodate this new interagency applicability date extension.

And as always, if you have any questions you can get in touch with us at