Agencies Request Comment on Community Reinvestment

The OCC, Board of Governors, and FDIC (the Agencies) invited public comment today to clarify and supplement their Interagency Questions and Answers Regarding Community Reinvestment to address issues raised by bankers, community organizations, and others regarding the Agencies’ Community Reinvestment Act (CRA) regulations. The document provides additional guidance to financial institutions and the public on the agencies’ regulations that implement the Community Reinvestment Act (CRA). Among other things, the proposed new and revised CRA questions and answers address community development-related issues by clarifying guidance on economic development; providing examples of community development loans and activities that are considered to revitalize or stabilize an underserved nonmetropolitan middle-income geography; and clarifying how community development services are evaluated.

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