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Regulators Moving Fast on Community Lending Rules, OCC’s Hsu Says

Sept. 8, 2021, 7:32 PM

Federal regulators are moving quickly to rewrite rules for evaluating banks’ lending and investments into low- and moderate-income communities, Acting Comptroller of the Currency Michael Hsu said.

To put more impetus into the agencies’ work on rewriting provisions of the Community Reinvestment Act (CRA), the Office of the Comptroller of the Currency on Wednesday officially proposed to rescind a new set of CRA rules that the agency finalized in May 2020 and reinstate a status quo that existed since 1995. The Federal Reserve and the Federal Deposit Insurance Corp. are still operating under the 1995 CRA rules.

Hsu said that ...