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The OCC issued responses to frequently asked questions on its proposal to rescind its June 2020 Community Reinvestment Act rule and replace it with interagency rules adopted in 1995.
Details: The FAQs include details on how the rescission will affect bank types that are based on the 2020 rule, which could affect banks near a size category threshold.
Deadline: Comments on the proposal are due this Friday, Oct. 29. The proposal is slated to take effect Jan. 1, 2022.