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) have jointly issued a notice of proposed rulemaking to amend their Community Reinvestment Act (CRA) regulations. The proposed changes aim to better align with the statutory mandate, ensure community development grants reach intended communities, reduce burden for banks (especially community banks), and provide greater clarity for CRA consideration.