FDIC and OCC Propose Changes to Community Reinvestment Act Rules

The FDIC and OCC have jointly proposed amendments to their Community Reinvestment Act (CRA) regulations. The proposed changes aim to refocus CRA supervision on encouraging banks to meet community credit needs, ensure community development grants benefit intended communities, reduce burden for community banks, and provide greater clarity for CRA consideration. These updates seek to enhance the effectiveness and fairness of community investment.