During mid-November the Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (the Agencies), published a final rule to amend their respective Community Reinvestment Act (CRA) regulations. The rule amends the definitions of “home mortgage loan” and “consumer loan” and the public file content requirements to conform to revisions made by the Consumer Financial Protection Bureau to its Regulation C, which implements the Home Mortgage Disclosure Act. […]
Category: CRA
PROPOSED AMENDMENTS TO CRA REGULATIONS
On September 13, 2017 the Office and of the Comptroller of the Currency, Federal Reserve Board, and Federal Deposit Insurance Corporation (Agencies), proposed a rule to amend their respective Community Reinvestment Act (CRA) regulations. The amendments would conform their CRA regulations to changes recently made by the Consumer Financial Protection Bureau to Regulation C, which implements HMDA. The Agencies anticipate issuing the final rule to coincide with the January 1, 2018 effective date of the […]
AGENCIES ANNOUNCE REVISED CRA THRESHOLDS
On December 29, 2016 the federal bank regulatory agencies announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examination procedures based upon their asset-size classification. Those meeting the small and intermediate small institution asset-size thresholds are not […]
REVISED INTERAGENCY CRA QUESTIONS AND ANSWERS
Recently the Office of the Comptroller of the Currency (OCC); Board of Governors of the Federal Reserve System (Board); Federal Deposit Insurance Corporation (FDIC) published final revisions to the Interagency Questions and Answers Regarding Community Reinvestment. The final rule was based on a proposal issued on September 10, 2014 that addressed alternative systems for delivering retail banking services; community development-related issues; and the qualitative aspects of performance, including innovative or flexible lending practices and the […]
2016 LIST OF DISTRESSED OR UNDERSERVED NONMETROPOLITAN MIDDLE-INCOME GEOGRAPHIES
On June 17, 2016 the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation announced the availability of the 2016 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration as community development. Distressed nonmetropolitan middle-income geographies and underserved nonmetropolitan middle-income geographies are designated by the agencies in accordance with […]