The Office of the Comptroller of the Currency recently issued a revised policies and procedures manual regarding its approach to licensing applications from banks that have non-satisfactory Community Reinvestment Act ratings.
The revisions allow applicants to document how certain acquisitions, branch relocations and other actions would “help the bank to achieve its CRA objectives,” as well as other factors the OCC will take into consideration when issuing CRA ratings.
Find out what the industry had to say about the revisions.