Bankowość · 06/02/2004

Community Reinvestment Act Regulations

The OCC, Board, FDIC, and OTS (collectively, "we" or "the agencies") have conducted a joint review of the CRA regulations, fulfilling the commitment we made when we adopted the current Community Reinvestment Act (CRA or "the Act") regulations in 1995. See 60 FR 22156, 22177 (May 4, 1995). As part of our review, we published an advance notice of proposed rulemaking (ANPR) on July 19, 2001, seeking public comment on a wide range of questions. 66 FR 37602 (July 19, 2001). This proposal was developed following the agencies' review of the CRA regulations, which included an analysis of about four hundred comments received on the ANPR. The comments reflected a general consensus that fundamental elements of the regulations are sound, but indicated a profound split over the need for, and appropriate direction of, change. Community organizations advocated "updating" the regulations with expanded requirements to match developments in the industry and marketplace; financial institutions were concerned principally with reducing burden consistent with maintaining or improving the regulations' effectiveness. The agencies believe the regulations are essentially sound, but are in need of some updat