Federal Reserve Board and FDIC expected to approve final Community Reinvestment Act rules at Oct. 24 meetings

Scott Coleman
Ballard Spahr LLP
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At its open Board meeting scheduled for October 24, 2023, the Federal Reserve Board is expected to approve its final rule amending its current regulation implementing the Community Reinvestment Act.

In May 2022, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation issued a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA.  Presumably, the OCC and FDIC will be issuing their final CRA rules shortly.

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