This week’s Compliance News Round Up features updates from the OCC, SBA, HUD, and more. Read on to catch up on the most recent news impacting our industry! OCC updates names and addresses for notices April 8, 2025 The OCC issued Bulletin 2025-6 to inform OCC-supervised institutions of the appropriate names and addresses for notices required by the Community Reinvestment Act (CRA) and Equal Credit Opportunity Act, and for posters required by the Fair Housing Act. Banks […]
Tag: CRA
Another Change for Section 1071 is Brewing
It seems like every morning you get up, grab some coffee, and look for the latest news on so-called “final” rules. Last week, we found out that the federal bank regulatory agencies announced their intent to rescind the Community Reinvestment Act (CRA) final rule issued in October 2023, and reinstate the previous CRA framework. This week, via a court filing, the Consumer Financial Protection Bureau (CFPB) signaled their intent to “initiate new rulemaking” for Dodd-Frank […]
Preliminary Injunction Against New CRA Rules
Earlier this week, a federal judge in Texas granted a preliminary injunction against banking regulators enforcing the new CRA (Community Reinvestment Act) rules. The lawsuit (brought by the American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce) was originally filed on February 29th of this year and can be found here. In it, they […]
Highlights from CRA Modernization Final Ruling
Last week, the Federal Reserve, FDIC, and Office of the Comptroller of the Currency (OCC) released the final rule for CRA Modernization. We are working hard behind the scenes to digest the nearly 1,500-page document, but while we’re working through that, here are a few highlights and elements of the law you should keep in mind as you begin to make a plan for compliance. Highlights of CRA Modernization CRA Modernization’s final ruling includes several […]
CRA Modernization Final Rule
Earlier today, The Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the Federal Deposit Insurance Corporation (FDIC), issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The CRA is designed to ensure federally insured banks meet the credit needs of the communities in which they do business, especially low- and moderate-income (LMI) communities. The press release announcing the CRA Modernization’s final rule emphasizes that […]