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OMB Control No: 1557-0357	ICR Reference No: 202404-1557-008
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Community Reinvestment Act (2021 Rule)
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: 04/12/2024
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/17/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/12/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2024	6 Months From Approved
Responses	2,096	0	0
Time Burden (Hours)	141,638	0	0
Cost Burden (Dollars)	0	0	0

Abstract: The Community Reinvestment Act of 1977 (CRA) requires the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Board of Governors of the Federal Reserve System (Board) (collectively, the agencies) to assess the record of banks and savings associations in helping to meet the credit needs of their entire communities, including low- and moderate-income neighborhoods, consistent with safe and sound operations; to take this record into account in evaluating applications for mergers, branches, and certain other corporate activities; and to make certain sections of its written evaluation of a bank’s CRA performance public . Further, the CRA requires the agencies to issue regulations to carry out its purposes. The OCC’s CRA regulation is set forth at 12 CFR part 25.

Emergency Justfication: The Community Reinvestment Act of 1977 (CRA) requires the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Board of Governors of the Federal Reserve System (Board) (collectively, the agencies) to assess the record of banks and savings associations in helping to meet the credit needs of their entire communities, including low- and moderate-income neighborhoods, consistent with safe and sound operations; to take this record into account in evaluating applications for mergers, branches, and certain other corporate activities; and to make certain sections of its written evaluation of a bank’s CRA performance public. Further, the CRA requires the agencies to issue regulations to carry out its purposes. The OCC’s CRA regulation is set forth at 12 CFR part 25. The data collection requirements in the CRA regulations are necessary for the agencies to examine, assess, and assign a rating to an institution’s CRA performance and to prepare the public section of the CRA performance evaluation. On February 1, 2024, the agencies published in the Federal Register a final rule that significantly amends their regulations implementing the CRA (CRA Final Rule). The agencies set an April 1, 2024, effective date for the CRA Final Rule, with most substantive provisions applicable on either January 1, 2026, or January 1, 2027. On March 29, 2024, the presiding Federal District Court judge in Texas Bankers Association, et al. v. OCC, et al., 24-CV-0025 (N.D. Tex.), issued a preliminary injunction that extends the April 1, 2024, effective date of the CRA Final Rule, along with all other implementation dates, day for day, for each day this injunction remains in place pending the resolution of the lawsuit. As a result, the CRA Final Rule did not take effect and the CRA rule published in the Federal Register on December 15, 2021, remains effective. This emergency clearance is therefore necessary because the OCC is statutorily obligated to evaluate banks under the CRA.

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

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion
Annual Number of Responses	2,096	2,096
Annual Time Burden (Hours)	141,638	141,638
Annual Cost Burden (Dollars)	0	0

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: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to more data requirements on banks that meet or exceed the large bank threshold. The increase in burden is directly tied to the increase in banks that meet or exceed the large bank threshold.

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? No

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

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