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News Release 2022-47
May 5, 2022
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Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
WASHINGTON—Federal bank regulatory agencies today jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI) neighborhoods, in a safe and sound manner.
Building on feedback from stakeholders and research, the agencies invite public comment on their joint proposal, which has the following key elements:
Comments on the attached proposal will be accepted on or before August 5, 2022.
Federal Reserve BoardLaura Benedict(202) 452-2955
FDICJulianne Breitbeil(202) 898-6895
OCCStephanie Collins (202) 649-6870