Community Reinvestment Act Rulemaking
The Community Reinvestment Act, or CRA, was signed into law in 1977 and is a seminal piece of legislation to address inequities in access to credit for low- and moderate-income individuals and communities. The Board, the FDIC, and the OCC have adopted substantially similar regulations implementing the CRA.
On October 24, 2023, the Board, the FDIC, and the OCC issued a final rule amending the agencies’ CRA regulations. In developing the final rule, the agencies’ objectives included updating the CRA regulations to strengthen the achievement of the core purpose of the statue, and adapting to changes in the banking industry, including the expanded role of mobile and online banking. The final rule reflects substantial feedback from stakeholders, including feedback received in response to the Board’s Advance Notice of Proposed Rulemaking (ANPR) issued in October 2020, and the Notice of Proposed Rulemaking (NPR) issued by the three agencies in May 2022.
Most of the final rule’s new requirements are applicable beginning January 1, 2026. The remaining new requirements, including data reporting requirements, are applicable on January 1, 2027.
October 24th, 2023
Agencies issue final rule to strengthen and modernize Community Reinvestment Act regulations
- Federal Register notice (PDF)
- Fact Sheet on CRA Final Rule (PDF)
- Summary of Key Objectives of the Interagency CRA Final Rule (PDF)
October 24, 2023
Board Memo on Final Rule – Community Reinvestment Act (Regulation BB) (PDF)
October 24, 2023
Statement by Chair Jerome H. Powell (PDF)
Statement by Vice Chair for Supervision Michael S. Barr (PDF)
Statement by Governor Michelle W. Bowman (PDF)
Statement by Governor Christopher J. Waller (PDF)
Additional CRA Resources
CRA Analytics Data Tables
The CRA Analytics Data Tables contain data used to conduct analyses in support of proposals to revise the CRA regulations. These data tables combine CRA small business and small farm data, Home Mortgage Disclosure Act data, and manually extracted data from CRA performance evaluations. Bank and community attributes (e.g., assets, deposits, branching, and information about communities, such as the percentage of low- and moderate-income households) and other third-party vendor data supplement information provided in the data tables.