Federal bank regulatory agencies have proposed rescinding the Community Reinvestment Act (CRA) final rule issued in October 2023. The proposal suggests reverting to the CRA regulations originally adopted in 1995, with certain technical amendments. If accepted, this move aims to restore certainty within the CRA framework amidst ongoing litigation and reduce regulatory burdens on banks, while ensuring continued service to communities.
The 2023 final rule is currently subject to legal action and has not been implemented. As a result, the agencies continue applying the 1995 regulations.
Stakeholders are invited to comment on the proposal within 30 days of its publication in the Federal Register.
