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TREAS/OCC | RIN: 1557-AC86 | Publication ID: Fall 2004 |
Title: Community Reinvestment Act Regulations | |
Abstract: OCC, the Board of Governors of the Federal Reserve (Board), the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision (the agencies) are considering issuing a joint rulemaking to conform the agencies' regulations implementing the Community Reinvestment Act (CRA) to changes in: the Standards for Defining Metropolitan and Micropolitan Statistical Areas published by the U.S. Office of Management and Budget (OMB) in December 2000; census tracts designated by the U.S. Bureau of the Census (Census); and the Board's Regulation C (12 CFR part 203), which implements the Home Mortgage Disclosure Act (HMDA). The agencies also would make a technical correction to an incorrect cross-reference within the CRA regulations. This rulemaking is technical in nature and will make no substantive changes in the requirements of the CRA regulations because the changes made by OMB, Census, and the Board already have become effective. Beginning January 1, 2004, financial institutions had to use OMB's statistical area standards, Census' geographies, and the Board's Regulation C when adjusting assessment area delinations and collecting CRA loan data. This rule simply conforms OCC regulations to the current practices of financial institutions. | |
Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Long-Term Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 25 | |
Legal Authority: 12 USC 21 12 USC 22 12 USC 26 12 USC 27 12 USC 30 12 USC 36 12 USC 93a 12 USC 161 12 USC 215 12 USC 215a 12 USC 481 12 USC 1814 12 USC 1816 12 USC 1828c 12 USC 1835a 12 USC 2901 to 2907 12 USC 3101 to 3111 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
Agency Contact: Margaret Hesse Senior Counsel Department of the Treasury Comptroller of the Currency Community and Consumer Law Division, 400 7th Street SW., Washington, DC 20219 Phone:202 649-6219 Email: margaret.hesse@occ.treas.gov |