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TREAS/OCC | RIN: 1557-AE34 | Publication ID: Spring 2020 |
Title: Community Reinvestment Act Regulations | |
Abstract:
The OCC and the FDIC issued an NPR that could encourage banks to provide billions more each year in Community Reinvestment Act-qualified lending, investment, and services by modernizing the Community Reinvestment Act (CRA) regulations to better achieve the law’s underlying statutory purpose of encouraging banks to serve their communities by making the regulatory framework more objective, transparent, consistent, and easy to understand. To accomplish these goals, this proposed rule would strengthen the CRA regulations by clarifying which activities qualify for CRA credit, updating where activities count for CRA credit, creating a more transparent and objective method for measuring CRA performance, and providing for more transparent, consistent, and timely CRA-related data collection, recordkeeping, and reporting. |
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Agency: Department of the Treasury(TREAS) | Priority: Economically Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Yes | Unfunded Mandates: No |
EO 13771 Designation: Independent agency | |
CFR Citation: 12 CFR 25 12 CFR 195 | |
Legal Authority: 12 U.S.C. 21 12 U.S.C. 22 12 U.S.C. 26 12 U.S.C. 27 12 U.S.C. 30 12 U.S.C. 36 12 U.S.C. 93(a) 12 U.S.C. 161 12 U.S.C. 215 12 U.S.C. 215(a) 12 U.S.C. 481 12 U.S.C. 1462(a) 12 U.S.C. 1463 12 U.S.C. 1464 12 U.S.C. 1814 12 U.S.C. 1816 12 U.S.C. 1828(c) 12 U.S.C. 1835(a) 12 U.S.C. 2901 to 2908 12 U.S.C. 3101 to 3111 12 U.S.C. 5412(b)(2)(B) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
Federalism: Undetermined | |
Included in the Regulatory Plan: No | |
RIN Information URL: https://www.regulations.gov/docket?D=OCC-2018-0008 | Public Comment URL: https://www.regulations.gov/docket?D=OCC-2018-0008 |
RIN Data Printed in the FR: No | |
Related Agencies: Joint: FDIC; | |
Agency Contact: Allison Hester-Haddad Special Counsel Department of the Treasury Comptroller of the Currency Chief Counsel's Office, 400 7th Street SW., Washington, DC 20219 Phone:202 649-7810 Email: allison.hester-haddad@occ.treas.gov Emily Boyes Counsel Department of the Treasury Comptroller of the Currency Community and Consumer Law Division, 400 7th Street SW., Washington, DC 20219 Phone:202 649-8647 Email: emily.boyes@occ.treas.gov |