OCC & FDIC Release Proposed Overhaul to CRA Regulations

On December 12, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released a proposal for new Community Reinvestment Act (CRA) regulations. The proposal would overhaul: CRA assessment boundaries; criteria for eligible CRA activities; and how banks are scored overall for their performance. A notice of proposed rulemaking is expected to be published in the Federal Register soon with a 60-day public comment period.