Share This Page

Federal Reserve Board statement on the Community Reinvestment Act

July 20, 2021 / Source: FRB

Press Release

July 20, 2021

Federal Reserve Board statement on the Community Reinvestment Act

The Federal Reserve Board on Tuesday announced it is committed to working together with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to jointly strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). "We are delighted to work together to develop a joint Notice of Proposed Rulemaking building on the Board's September 2020 Advance Notice of Proposed Rulemaking, which was intended to provide a framework for a joint rulemaking that ensures the CRA remains a strong and effective tool to address inequities in access to credit and meet the needs of low- and moderate-income communities and garners broad support," said Federal Reserve Governor Lael Brainard.

For media inquiries, call 202-452-2955

Last Update: July 20, 2021