View Information Collection Request (ICR) Package

OMB Control No: 1557-0160	ICR Reference No: 202202-1557-003
Status: Historical Inactive	Previous ICR Reference No: 202112-1557-002
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Community Reinvestment Act Regulation
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 08/04/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/03/2022
Terms of Clearance: OIRA will rereview upon finalization.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2023	36 Months From Approved	03/31/2024
Responses	2,158	0	2,158
Time Burden (Hours)	113,351	0	113,351
Cost Burden (Dollars)	0	0	0

Abstract: The Community Reinvestment Act (CRA) is designed to encourage regulated banks to help meet the credit needs of the local communities in which they are chartered. Specifically, Congress found that “(1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business; (2) the convenience and needs of communities include the need for credit as well as deposit services; and (3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.” The CRA statute requires the agencies to “assess the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution.” Upon completing this assessment, the statute requires the agencies to “prepare a written evaluation of the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods.” In addition, the statute requires making portions of these written evaluations, referred to by the agencies as performance evaluations, available to the public. The statute further provides that each agency must consider a bank’s CRA performance “in its evaluation of an application for a deposit facility by such institution.” This ICR is being submitted in connection with an interagency proposed rule issued by the OCC, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.

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:
1557-AF15	Proposed rulemaking	87 FR 33884	06/03/2022

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

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

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to: Changing Regulations

Short Statement: The increase in burden is due to the proposed change in regulatory requirements.

Annual Cost to Federal Government: $0

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? No

Agency Contact: Heidi Thomas 202 874-5090 heidi.thomas@occ.treas.gov

View ICR - OIRA Conclusion