Final CRA Rules for Large Banks

On October 24th, the banking agencies finalized significant changes to the Community Reinvestment Act (CRA). The final rule is designed to adapt CRA regulations to banking industry changes, improve clarity to regulated institutions, tailor evaluations and data collection to bank size and type, and maintain a unified interagency approach. The final rule takes effect in April 2024 and will require mandatory bank compliance by January 1, 2026.

Learn what is required for large banks under the final rule including the Retail Lending Test, the Retail Services and Products Test, the Community Development Financing Metric Test and the Community Development Services Test.

Learning Objectives:

• Understand the key evaluations, important dates, and definition of a large bank.

• Learn about the requirements of the Retail Lending Assessment Areas.

• Examine the New Retail Services and Products Test.

• Study the community development financing calculation.

• Analyze the new Community Development Services Test.

Duration: 60-minutes