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Effective Date: Community Reinvestment Act

AGENCY: Office of the Comptroller of the Currency, Treasury; Board of Governors of the Federal Reserve System; and Federal Deposit Insurance Corporation

ACTION: Final rule.

SUMMARY: The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) are adopting final amendments to their regulations implementing the Community Reinvestment Act of 1977 (CRA) to update how CRA activities qualify for consideration, where CRA activities are considered, and how CRA activities are evaluated.

DATES: Effective date: This rule is effective on April 1, 2024, except for amendment nos. 26, 49 and 71, which are effective April 1, 2024, through January 1, 2031. The effective date for amendment nos. 7, 11, 14, 16, 20, 33, 35, 37, 39, 43, 55, 57, 59, 61, and 65 are delayed indefinitely. The agencies will publish a document in the Federal Register announcing an effective date for these delayed amendments.

Applicability date: Sections __.12 through __.15; __.17 through __.30; __.42(a); the data collection and maintenance requirements in Ā§ __.42(c), (d), (e), and (f); and appendices A through F of the common rule text as adopted by the OCC, Board, and FDIC are applicable on January 1, 2026. Sections __.42(b), (g), (h), and (i) and the reporting requirements in Ā§ __.42(c), (d), (e), and (f) of the common rule text as adopted by the OCC, Board, and FDIC are applicable on January 1, 2027.

https://www.federalreserve.gov/newsevents/pressreleases/files/frn-cra-20231024.pdf

 

  • April 1, 2024
  • Time: All Day
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