On December 19, 2022, the Federal Reserve Board and the Federal Deposit Insurance Corporation announced the 2023 updated asset-size thresholds used to define “small bank” and “intermediate small bank” under their Community Reinvestment Act (CRA) regulations. Annual adjustments to these asset-size thresholds are based on the average change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a measure of inflation. As a result of the 8.60 percent increase […]
Tag: CRA
OCC PUBLISHES CRA INFOGRAPHICS
The Office of the Comptroller of the Currency (OCC) has published a series of infographics to assist banks in understanding the requirements of the proposed interagency CRA rules. The proposed rules are an interagency effort. While the infographics come from the OCC, all banks, regardless of prudential regulator, will benefit from the information. The CRA NPR Infographics include: CRA Fact Sheet; Small Banks; Intermediate Banks; Large Banks; Wholesale or Limited Purpose Banks; and Large and […]
FFIEC UPDATES LIST OF DISTRESSED OR UNDERSERVED GEOGRAPHIES
On July 1, 2022 the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency announced the availability of the 2022 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration pursuant to the definition of community development under the agencies’ regulations. Revitalization or stabilization activities in these geographies are eligible to […]
SMALL BUSINESS LENDING RULE DELAYED
On June 27, 2022, the Office of Management and Budget published the Spring 2022 Unified Agenda of Federal Regulatory and Deregulatory Actions. The Agenda breaks down rules from over 60 federal departments, agencies, and commissions. In the list of actions from the Consumer Financial Protection Bureau (CFPB) is an announcement that the final rule for Small Business Lending Data Collection Under the Equal Credit Opportunity Act is not expected until March 2023. The rule will […]
Day 2 – ABA RCC
Welcome from Orlando and day two of the annual ABA Regulatory Compliance Conference. It was a jammed packed day of listening and learning from boots on the ground peers. My focus today was on a variety of topics; from CRA modernization, Patty Joyner’s take on today’s hybrid work environments, UDAAP, and the evolution of risk framework. It was hard to choose what sessions to attend. There were so many great topics to choose from. However, […]