Community Reinvestment Act (CRA) Regulations’ Current Requirements: Succeeding Today While Planning for the Future (All-Day Streaming)
After what has seemed like an endless series of fits and starts, including the issuance of a Final Rule (that was later revoked), the OCC, Federal Reserve, and FDIC finally issued their long-awaited amendments to the Community Reinvestment Act (CRA) regulations. And now they’ve been pulled back by the agencies, with a return to the “1995 regulations.” What is old is new again. We’re right back to where we were before these new regulations came about. Banking has come a long way since 1977, when the original CRA regulations were issued. We’ve seen the evolution into digital products and services, the incredible new array of products and services, and major changes in the way those products are delivered. But the core concepts of the CRA remain: institutions are evaluated on their performance within their communities, particularly on the lending side, with a particular focus on Low- and Moderate-Income (LMI) areas within its assessment area. Institutions’ compliance responsibilities continue to be divided into three distinct categories, depending on asset size: small, intermediate small, and large. In this all-day streaming session, we’ll go over the details of the rules as they stand now. What is necessary to achieve an Outstanding (or Satisfactory) rating? We’ll be living with these current CRA regulations for at least a few more years, so it’s important to understand what it takes to succeed today, as well as plan for the future.
