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OMB Control No: 1557-0348	ICR Reference No: 202010-1557-007
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Community Reinvestment Act Survey
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 11/24/2020
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/25/2020
	Date Received in OIRA: 11/24/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2021	6 Months From Approved
Responses	105	0	0
Time Burden (Hours)	146,000	0	0
Cost Burden (Dollars)	0	0	0

Abstract: On June 5, 2020, the OCC published a final rule in the Federal Register that makes comprehensive changes to the Community Reinvestment Act (CRA) regulatory framework designed to ensure that the CRA remains a relevant and powerful tool for encouraging banks to serve the needs of their communities, particularly low- or moderate-income (LMI) neighborhoods, consistent with banks’ safe and sound operations. The OCC modernized and strengthened the CRA regulatory framework to better achieve the underlying statutory purpose of encouraging banks to help serve their communities by making the framework more objective, transparent, consistent, and easy to understand. To accomplish these goals, the final rule strengthened the CRA regulations in four key areas by (1) clarifying which activities qualify for CRA credit; (2) updating where activities count for CRA credit; (3) creating a more consistent and objective method for measuring CRA performance; and (4) providing for more timely and transparent CRA-related data collection, recordkeeping, and reporting. The final rule provided a new evaluation framework (i.e., the general performance standards) for banks with assets of $2.5 billion or more that are not wholesale or limited purpose banks and do not operate under an approved strategic plan. However, the final rule did not provide the CRA evaluation measure benchmarks, retail lending distribution test thresholds, and community development (CD) minimums under the general performance standards. In order to calibrate the benchmarks, thresholds, and minimums, the OCC seeks information to assist in determining current and historical levels of CRA activity. Specifically, this information collection seeks bank-specific data and information to supplement available data. This information collection applies only to banks with assets of $2.5 billion or more that are subject to the general performance standards under the CRA final rule. The OCC seeks information to assist in determining the CRA evaluation measure benchmarks, retail lending distribution test thresholds, and CD minimums under the final rule that will correspond to the presumptive ratings. The OCC analyzed currently available data to estimate how banks would have performed under the proposed rule’s framework. The final rule did not finalize the benchmarks, thresholds, or minimums as proposed. Instead, the OCC planned to issue a separate notice of proposed rulemaking to determine the benchmarks, thresholds, and minimums that will correspond to the presumptive ratings in the final rule. This information collection seeks bank-specific data and information to supplement the agency’s analyses and currently available data. Specifically, it requests four types of bank data or information: (1) retail domestic deposit and assessment area data; (2) qualifying activities data; (3) branch information; and (4) retail loan application and origination data. The data should contain information from January 1, 2017, to December 31, 2019.

Emergency Justfication: The CRA final rule issued on June 5, 2020 did not set banks’ performance benchmarks, thresholds, and minimums that would incentivize banks to conduct more retail loans and community development loans, investments, and services because the OCC elected to collect and analyze bank-specific data and information and additional public comment through a notice of proposed rulemaking before finalizing the benchmarks, thresholds, and minimums. The devastating health effects of COVID-19 and the local measures taken to control its spread have caused tremendous economic hardship in the United States at an unprecedented pace. Since February 2020, millions of jobs have been lost, and the unemployment rate has precipitously increased. The economic challenges experienced by communities across the United States, including LMI communities, as a result of the COVID-19 pandemic make it critical that implementation of the revised CRA framework, including the establishment of the benchmarks, thresholds, and minimums, not be delayed so that the full financial benefits of the new rule can reach these communities as soon as possible. To gather the necessary data and information to finalize the CRA regulatory framework, the OCC plans to issue an Information Collection Survey as expeditiously as possible, given the severe and ongoing financial effects of COVID-19 on communities. Implementation of the final CRA rule is essential to the OCC’s mission that includes providing fair access to financial services, and the agency notes that combatting the economic consequences of COVID-19 is an Administration priority. The timeframes required by the ordinary clearance process is likely to delay the use of the Information Collection Survey to develop and finalize the revised CRA regulatory framework and would likely have a negative impact on the economic recovery of the country from the pandemic.

Authorizing Statute(s): US Code: 12 USC 2901 et seq. Name of Law: Community Reinvestment Act

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
CRA Survey

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion
Annual Number of Responses	105	105
Annual Time Burden (Hours)	146,000	146,000
Annual Cost Burden (Dollars)	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to the fact that this is a new collection.

Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Yes

Agency Contact: Daniel Borman 202 649-6929 daniel.borman@occ.treas.gov

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