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.
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The OCC, the Federal Reserve Board and the FDIC adopted a new framework for the implementation of the Community Reinvestment Act.
Acting Comptroller Michael J. Hsu warned that the digitalization of the banking industry poses significant challenges for community banks.
The Federal Reserve Board, the FDIC and the OCC solicited comments on proposed amendments to Community Reinvestment Act regulations. Comments are due by August 5, 2022. The notice was published in the Federal Register.
The Federal Reserve Board, the FDIC and the Comptroller of the Currency proposed amendments to the Community Reinvestment Act regulations. Comments are due by August 5, 2022.