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Federal Deposit Insurance Corporation (FDIC)

NCRC Applauds Federal Reserve, FDIC, OCC Efforts to Expand CRA Credit for Activities in Response to COVID-19

Today, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint statement providing guidance to financial institutions on how they can receive credit on their Community Reinvestment Act (CRA) activities to low- and moderate-income people and communities affected by the coronavirus. 

NCRC Applauds Federal Reserve’s Release of CRA Data

“We applaud the Federal Reserve’s release of CRA data. They are practicing transparency and we look forward to fully analyzing the data. We’re also curious what it may reveal or imply about the OCC and FDIC proposal. The OCC and FDIC have failed to release data they referenced in their rule proposal,” said Jesse Van Tol, CEO of NCRC.

How to Evaluate Community Development Financing and Services Under CRA

In anticipation of the reform proposals to the Community Reinvestment Act (CRA) expected this week, I am continuing the review of performance measures on CRA exams. The most recent blog looked at performance measures on the lending test. This one will scrutinize performance measures on the investment and service test.