OCC Finalizes Rules to Update Community Reinvestment Act Regulations
The Office of the Comptroller of the Currency (OCC) today announced final rules to update the agency’s regulations under the Community Reinvestment Act (CRA). NAHB submitted comments on the proposed rule issued by the Federal Deposit Insurance Corp. (FDIC) and OCC in April and we are currently examining the 372-page regulation to determine its impact on the housing community.
The OCC issued the final rule without FDIC, so the new rule will apply only to OCC-regulated banks. The OCC regulates all national banks and federal savings associations — approximately 1,200 financial institutions nationwide. In a statement by FDIC Chairman Jelena McWilliams, she said “the agency is not prepared to finalize the CRA proposal at this time.”
In its comments, NAHB asked the agencies to clarify that construction loans to home builders could receive CRA credit under the new proposal. In its new rulemaking — and in a win for NAHB — the OCC said that construction loans for 1-4 family residential properties to builders and consumers are home mortgage loans for CRA purposes if they are reported on a bank’s Call Report.
The final rule is effective Oct. 1, 2020.
In a related development, Comptroller of the Currency Joseph Otting is expected to step down from his position as the OCC’s top regulator at the end of the week, according to reports from Politico and the Wall Street Journal.
Latest from NAHBNow
Oct 16, 2025
NAHB Endorses Dignity Act to Modernize America’s Immigration SystemNAHB supports comprehensive immigration reform legislation recently introduced in the House by Reps. Maria Salazar (R-Fla.) and Veronica Escobar (D-Texas) that would protect the nation’s borders and preserve critical workforces.
Oct 16, 2025
Amid Market Challenges, Builder Expectations Rise in OctoberBuilder confidence in the market for newly built single-family homes was 37 in October, up five points from September and the highest reading since April, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today.
Latest Economic News
Oct 14, 2025
Custom Home Building Share Declines in 2024In 2024, 17.5% of all new single-family homes started were custom homes. This share decreased from 18.8% in 2023 and from 20.4% in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC).
Oct 13, 2025
Hispanics Comprise Nearly One-Third of the Construction Labor ForceDiversifying the construction labor force remains a key priority amid persistent skilled labor shortages. According to the 2023 American Community Survey, non-Hispanic White workers still account for the majority of the construction industry at 57%. Hispanic workers now represent nearly one-third of the labor force at 32%, followed by non-Hispanic Black workers at 5% and non-Hispanic Asian workers at 1.8%.
Oct 10, 2025
Vinyl Surpasses Stucco as Most Used Principal Exterior Wall MaterialIn 2024, vinyl siding was the most used principal exterior wall material for homes started. It holds just over a quarter share of homes, slightly surpassing stucco for the first time since 2018.