FDIC and OCC Propose Targeted Amendments to Community Reinvestment Act Regulations

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) jointly issued a notice of proposed rulemaking to amend their Community Reinvestment Act (CRA) regulations. The proposed changes aim to refocus supervision efforts on meeting community credit needs, ensure community development grants reach intended beneficiaries, reduce burden for banks, and provide greater clarity for CRA consideration.