The FDIC board of directors announced it will meet this week on a notice of proposed rulemaking on revising Community Reinvestment Act regulations. The board meeting is scheduled for 10 a.m. (Eastern time) this Thursday, May 5.
Background: Federal regulators have been working together on an interagency rulemaking since the OCC last year withdrew its June 2020 rule
ICBA Position: ICBA has repeatedly called on regulators to work together on updated CRA regulations that reflect banking industry changes, recognize the disproportionate reporting burden on community banks, and improve transparency.
More: An ICBA issue brief released earlier this year breaks down what community banks need to know about moving into a new CRA asset-size categorization.