Search results
- The final rule will increase bank CRA-related lending, investment, and services in low- and moderate-income communities where there is significant need for credit, more responsible lending, and greater access to banking services.
www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-63.htmlOCC Finalizes Rule to Strengthen and Modernize Community ...
People also ask
What does CRA stand for?
Why has the June 2020 CRA rule not been implemented?
What is the final CRA rule?
What is a qualifying activity under the June 2020 CRA rule?
What is the December 2021 CRA rule?
When will the CRA rule be enacted in 2022?
Nov 9, 2020 · The June 2020 rule establishes transparent criteria for qualifying retail and community development activities and provides for an illustrative list of activities that will receive CRA credit. The rule also establishes new criteria for designating bank assessment areas, including.
Dec 15, 2021 · On December 14, 2021, the Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly by the federal banking agencies in 1995, as amended.
the June 2020 CRA rule to the December 2021 CRA rule that is largely based on the rules adopted jointly by the OCC, the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) in 1995, as revised 3 (1995 rules).
Dec 14, 2021 · The Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly by the Federal banking agencies in 1995, as amended.
Jun 15, 2020 · According to the agency’s press release, the final rule is designed to increase CRA-related lending, investment and services in low- and moderate-income (“LMI”) communities where there is significant need for credit, responsible lending, and greater access to banking services.
Dec 17, 2021 · On December 4, 2021, the OCC issued a final rule that rescinds its June 2020 Consumer Reinvestment Act (CRA) final rule and replaces it with a rule that is largely based on the OCC’s 1995 CRA rule that was adopted jointly with the Federal Reserve Board and FDIC. The final rule is effective January 1, 2022.
Oct 24, 2023 · In developing the final rule, the agencies’ objectives included updating the CRA regulations to strengthen the achievement of the core purpose of the statue, and adapting to changes in the banking industry, including the expanded role of mobile and online banking.
