The OCC issued proposed rules to rescind its May 2020 Community Reinvestment Act rule and replace it with interagency rules adopted in 1995.
Previous: The OCC in July said it would rescind the CRA rule and work with other agencies on a joint rulemaking, which the FDIC and Federal Reserve Board affirmed in a separate statement.
ICBA Position: ICBA expressed support for the OCC announcement after previously supporting the agency’s May announcement that it would reconsider the rule.