Agencies Issue Joint Proposal to Strengthen and Modernize Community Reinvestment Act Regulations
Industry Update
May 5, 2022
Source: Office of the Comptroller of the Currency
Federal bank regulatory agencies 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.
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