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ABA-OCC Formally Proposes to Rescind 2020 CRA Rules.

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ENPNewswire-September 9, 2021--ABA-OCC Formally Proposes to Rescind 2020 CRA Rules

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Release date- 08092021 - As expected, the OCC today formally proposed to rescind the OCC's 2020 Community Reinvestment Act rule with rules based on the 1995 CRA rules that were jointly adopted by the OCC, Federal Reserve and FDIC.

As expected, the OCC today formally proposed to rescind the OCC's 2020 Community Reinvestment Act rule with rules based on the 1995 CRA rules that were jointly adopted by the OCC, Federal Reserve and FDIC. Acting Comptroller of the Currency Michael Hsu earlier this summer signaled that he would rescind the 2020 changes and pursue a joint rulemaking to modernize the CRA with the other banking agencies.

'The issuance of the OCC's NPR today is an important step toward strengthening and modernizing the CRA,' Hsu said. 'The OCC is committed to working with the Federal Reserve and FDIC on a future joint rulemaking to...

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