FDIC and OCC Propose Significant Changes to Community Reinvestment Act Rules, Raising Concerns for Indian Country

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have proposed substantial revisions to the Community Reinvestment Act (CRA) regulations. These changes include significantly higher asset thresholds, which would reduce the number of banks subject to more rigorous lending and community development requirements, and a cap on overhead spending for community development grants. The Native CDFI Network has criticized the proposal, expressing concerns that it could diminish access to capital in low- and moderate-income communities, including Indian Country.