Community Reinvestment Act 2022 Notice of Proposed Rulemaking
The Board, along with the FDIC and the OCC, issued a Notice of Proposed Rulemaking (NPR) in May 2022 that would amend their regulations implementing the CRA. The NPR was issued after the Advance Notice of Proposed Rulemaking (ANPR) which was issued by the Board in September 2020. The ANPR, its supporting materials, and the comments received provided a basis for the agencies' NPR.
Notice of Proposed Rulemaking (NPR)
Comments on the Proposal
View comments on the proposal here.
Press release
May 5, 2022
Agencies issue joint proposal to strengthen and modernize Community Reinvestment Act regulations
- Federal Register notice
- Issued Version: Federal Register notice (PDF)
- Fact Sheet on CRA Notice of Proposed Rulemaking (PDF)
- Summary of Key Objectives of the Interagency CRA Proposal (PDF)
Board memo
May 5, 2022
Board Memo on Notice of Proposed Rulemaking – Community Reinvestment Act (Regulation BB) (PDF)
Statements
May 5, 2022
Statement by Governor Lael Brainard
Statement by Governor Michelle Bowman
Interagency webinar
May 11, 2022
Community Reinvestment Act (CRA) Reform Update: Overview of the Interagency CRA Notice of Proposed Rulemaking
Webinar
June 3, 2022
Modernizing the Community Reinvestment Act: Ensuring Banks Meet the Credit Needs of Their Communities
Resources
Evaluating a Bank's Retail Lending Test Performance (PDF)
This infographic illustrates the distribution metrics of the proposed Retail Lending Test, which would evaluate a bank's retail lending performance, as outlined in the CRA NPR. The proposed Retail Lending Test would use geographic distribution and borrower distribution metrics to separately evaluate and score each of a bank's major retail product lines, which may include open-end home mortgage, closed-end home mortgage, multifamily mortgage, small business, small farm, and automobile lending. Based on this performance, the proposal would assign a single performance score to a bank's entire retail lending performance in each assessment area.
CRA Analytics Data Tables
The CRA Analytics Data Tables contain data used to conduct analyses described in the NPR. 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.
Proposed Retail Lending Test Thresholds Search Tool
To aid stakeholders in understanding the proposed Retail Lending Test approach, this search tool provides illustrative examples of retail lending thresholds for home mortgage, small business, and small farm loan products using historical data from 2017-2019. Due to data limitations, the approach used to develop these illustrative examples is similar to, but not identical to, the methodology proposed in the NPR.