Federal Bank Regulatory Agencies Release Overview Webinar of New Community Reinvestment Act Regulations
January 10, 2024 / Source: FDIC
FEDERAL BANK REGULATORY AGENCIES RELEASE OVERVIEW WEBINAR OF NEW COMMUNITY REINVESTMENT ACT REGULATIONS
The federal bank regulatory agencies today jointly issued a overview webinar on the final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA).
The nearly one-hour video provides an overview of the new CRA rule issued on October 24, 2023, and its objectives. Additional topics in the recording include assessment areas, community development, evaluation framework, performance tests, ratings, data collection and reporting, and applicability dates.
The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their local communities, with a focus on low- and moderate-income neighborhoods, in a safe and sound manner.