On May 18, 2021, the Office of the Comptroller of the Currency (OCC) published OCC Bulletin 2021-2, which states that the OCC has determined that it will reconsider the final CRA Rule published on June 5, 2020. While this reconsideration is ongoing, the OCC: Will not object to the suspension of the development of systems for, or other implementation of, provisions with a compliance date of January 1, 2023, or January 1, 2024, under the […]
Tag: CRA
OCC Publishes Essential CRA Information
On June 5, 2020, the Office of the Comptroller of the Currency (OCC) published a final rule revising its Community Reinvestment Act (CRA) regulation. The revised rule, which applies to national banks, federal savings associations, and federal branches of foreign banking organizations that are subject to the OCC’s regulations under CRA, was effective on October 1, 2020. Since June, the industry has been waiting for additional information essential for implementing the final rule. On January […]
CRA Asset-Size Threshold
On December 17, 2020 the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation announced the annual adjustment to the asset-size thresholds used to define small bank and intermediate small bank under the Community Reinvestment Act (CRA) regulations. At this time the Office of the Comptroller of the Currency has not released its updated CRA threshold. Annual adjustments to these asset-size thresholds are based on the change in the average […]
NEXT PIECE OF OCC CRA RULES PUBLISHED
On November 24, 2020, the Office of the Comptroller of the Currency (OCC) published a Notice of Proposed Rulemaking (NPRM) regarding the Community Reinvestment Act’s (CRA) general performance standards. The OCC published a final rule on May 20, 2020, with an October 1, 2020 effective date, to strengthen and modernize the agency’s regulations under the CRA to encourage banks to engage in more activities to serve the needs of their communities, particularly low- and moderate-income and other […]
OCC SMALL BANK CRA GUIDE
With the publication of OCC Bulletin 2020-86 the Office of the Comptroller of the Currency (OCC) released: A compliance guide for small banks; An initial illustrative list of qualifying activities; and A form to request consideration of items to be added to the list of qualifying activities. The OCC’s website includes these items and other information regarding the OCC’s new CRA regulation