The Office of the Comptroller of the Currency (OCC) recently issued a bulletin clarifying the agency’s amended policies used in determining how well a bank has done complying with Community Reinvestment Act (CRA) requirements.
The OCC also announced it would be seeking industry input on improving CRA implementation through an advanced notice of proposed rulemaking, and the Treasury Department issued a memorandum suggesting ways CRA implementation could be improved as well.
Find out more details about what revisions the OCC has made to its guidance and what recommendations have been put forth so far.