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Regulators Revise CRA Questions and Answers

Posted on 3/19/2013

The federal banking regulators yesterday issued proposed revisions to their question-and-answer guidance on Community Reinvestment Act (CRA) compliance that address community development activities outside institutions' assessment areas, additional ways to determine whether community-services recipients are low- or moderate-income, and service on a community development organization's board.

The regulators also proposed adding two new questions and answers. The first involves the treatment of community development performance in determining an institution's lending test rating, and the second addresses the quantitative consideration given to a certain type of community development.

The comment deadline is May 17. To read more visit: http://www.federalreserve.gov/newsevents/press/bcreg/20130318a.htm



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