Joint Release/FDIC and OCC Announce 30-day Extension of Comment Period for Community Reinvestment Act Regulations — 2020-02-19

FDIC and OCC Announce 30-day Extension of Comment Period for Proposed Changes to Community Reinvestment Act Regulations WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) today extended the public comment period for proposed changes to the regulations implementing the Community Reinvestment Act (CRA) until April 8, 2020. On December 12, 2019, the FDIC and OCC announced a proposal to modernize the regulations under the CRA and provided for a 60-day comment period following formal publication on January 9, 2020 in the Federal Register (85 FR 1204). The FDIC and OCC have now determined that a 30-day extension of the comment period is appropriate. The proposed regulations are intended to increase bank activity in low- and moderate- income communities where there is significant need for credit, more responsible lending, and greater access to banking services.