CRA Reform is on the Table, Regulatory Update

Yesterday, U.S. federal regulators, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) released a draft overhaul of the 1977 Community Reinvestment Act (CRA) that is being described as a plan to modernize agencies’ current regulations. This would be the first major change to the investment rules in almost 25 years. The end goal of the changes are to renovate the guidelines and encourage banks to lend more in communities that need investment dollars.

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