WebAs used herein, the 1995 Rules refer to the regulatory framework adopted by the Agencies in 1995 and any revisions the Agencies have made to that regulatory framework, except for the changes made by the OCC in the June 2024 Rule. E.g., 70 FR 44256 (Aug. 2, 2005). 7 NR 2024-77, Interagency Statement on Community Reinvestment Act Joint WebCommunity Reinvestment Act (CRA) that have been rendered obsolete by the 1995 revisions to the regulations implementing the CRA promulgated by the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board (Board), the Federal Deposit Insurance Corporation (FDIC) and the Office of Thrift Supervision (OTS) (collectively, the ...
Community Reinvestment Act: Definition, Recession Role - The …
WebThe Community Reinvestment Act (CRA) is a 1977 federal law that encourages banks and other depository institutions to help meet the credit needs of their communities, including low- and moderate-income neighborhoods, consistent with safe and sound banking operations. ... The regulations that implement the CRA were revised substantially in 1995 ... WebMar 15, 2024 · The Community Reinvestment Act was enacted in 1977 with a worthy goal of encouraging banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. The rules implementing CRA, however, have not kept pace with the digital revolution and evolving customer preferences. curl telnet port check
Community Reinvestment Act - Federal Reserve Bank of Kansas City
WebThe Community Reinvestment Act (CRA) is a law intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income (LMI) neighborhoods, consistent with safe and sound banking operations. (CRA does not encourage the extension of unsafe or unsound credit.) WebMay 10, 2024 · The Community Reinvestment Act (“CRA”) was passed in 1977 and generally requires insured depository institutions to participate in investment, lending and service activities that help meet the credit needs of their assessment areas, particularly low- and moderate-income (“LMI”) communities and small businesses and farms. WebJul 8, 2024 · H.R. 1211 (104. ): Community Reinvestment Improvement Act of 1995. To amend the Community Reinvestment Act of 1977 to enhance the availability of investment capital for low- and moderate-income … curl terminal windows