A Trump administration rewrite of rules for evaluating banks’ lending and investments into low- and moderate-income communities is officially dead.
The Office of the Comptroller of the Currency on Tuesday issued a final rule rescinding a May 2020 rewrite of rules governing the Community Reinvestment Act.
The move reinstates CRA regulations that have been in place since 1995. The OCC has been working with the Federal Reserve and the Federal Deposit Insurance Corp. to modernize those rules and redefine the types of lending and investments that qualify for CRA credit.
The 1977 law empowers regulators to measure the amount of ...
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