The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
News & Insights
The OCC, the Federal Reserve Board and the FDIC adopted a new framework for the implementation of the Community Reinvestment Act.
In a "Consumer Compliance Supervisory Highlights" Report, the FDIC summarized the results of consumer compliance examinations of supervised institutions in 2022 and offered recommendations to strengthen compliance management systems.
The FDIC and Federal Reserve Board amended the asset-size thresholds used to define "small bank" and "intermediate small bank" under Community Reinvestment Act regulations.
The FDIC and the Federal Reserve Board issued a joint letter to a digital asset custodian stating that the firm has been making "false and misleading" statements that customers who have opened accounts benefit from FDIC insurance.