Federal Reserve, FDIC and OCC to Develop Joint Community Reinvestment Act Rule
The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly announced that they will work together to modernize the regulations that implement the Community Reinvestment Act (CRA).
The CRA requires the federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including low- and moderate-income (LMI) neighborhoods.
As part of this joint effort, the OCC has announced that it is rescinding its CRA rule issued in May 2020 and working with the Federal Reserve and FDIC on an orderly transition to a new rule.
The next step is for the three agencies to develop a joint Notice of Proposed Rulemaking.
“Joint agency action will best achieve a consistent, modernized framework across all banks to help meet the credit needs of the communities in which they do business, including low- and moderate-income neighborhoods,” the three banking regulators said in a joint statement.
Latest from NAHBNow
Building Systems Councils
Mar 09, 2026
Laura Dwyer Wins SA Walters Lifetime Achievement Award for Systems Built HousingThe NAHB Building Systems Councils has awarded the S.A. Walters Award for Lifetime Achievement in Systems Built Housing to Laura Dwyer, recognizing her decades of leadership, innovation, and service to the homebuilding industry.
IBS | Leadership Meetings
Mar 09, 2026
Watch Video Highlights from the Leadership Meetings at the 2026 IBSNAHB members who were unable to join us in Orlando, Fla., this February for the leadership meetings at the 2026 International Builders' Show can watch some of the highlights on nahb.org.
Latest Economic News
Economics
Mar 09, 2026
Lower Mortgage Rates Boost Refinancing While Purchase Activity SlowsMortgage application activity increased month-over-month as the 30-year fixed mortgage rates reached a three-year low.
Economics
Mar 06, 2026
U.S. Economy Loses 92,000 Jobs in FebruaryThe U.S. labor market weakened in February, as payroll employment declined and the unemployment rate rose to 4.4%. The cooling labor market could place the Federal Reserve in a challenging position as policymakers weigh slower job growth against inflation pressures from rising oil prices.
Economics
Mar 05, 2026
Builders Identify Key Long-Term Forces Shaping Housing Demand and Industry HealthHome builders are keenly aware of the complex long-term outlook ahead for the home building industry. A recent NAHB/Wells Fargo HMI survey asked builders to assess the impact of 14 major trends and forces on the health of the industry and housing demand over the next 10 years.