On March 28, the FDIC, the Fed, and the OCC announced their intention to issue a proposal to rescind the CRA final rule that was issued in October 2023 (covered by InfoBytes here). According to the prudential regulators, this decision was influenced by pending litigation and they plan to reinstate the CRA framework that existed prior to the 2023 final rule. Additionally, the agencies noted they will continue collaborating to maintain a consistent regulatory approach in implementing the CRA.
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