Federal bank regulatory agencies have issued a proposal to rescind the Community Reinvestment Act (CRA) final rule from October 2023. The plan is to replace it with the CRA regulations originally adopted in 1995, with some technical amendments. This move aims to provide certainty for stakeholders amidst ongoing litigation and reduce regulatory burdens on banks while ensuring they continue serving their communities.
The 2023 final rule has not taken effect due to legal challenges, so the 1995 regulations are still applied to banks.
“Federal Register notice: Community Reinvestment Act Regulations (PDF)”
“Board Memo on Notice of Proposed Rulemaking – Community Reinvestment Act (Regulation BB) (PDF)”
