The Prudential Banking Regulators' Joint Proposed Community Reinvestment Act Regulations
Bank Counsel Roundtable
Following the rescission to the Office of the Comptroller of the Currency (OCC) of its recently revised Community Reinvestment Act (CRA) regulations on May 5, 2022, the federal banking agencies once again issued a joint proposal to update the implementing regulations for the CRA.
Because the CRA regulations directly impact a broad range of issues with the safety and soundness regulatory process, the proposal will become a focal point by the banking regulators when viewing a bank’s overall operations for years to come.
Walter Mix joined Erin Bryan and Joseph Lynyak (Dorsey & Whitney LLP) to analyze the joint proposal, compare it to the current CRA regulations, and identify legal concerns when the joint proposal is eventually adopted.