On March 28, 2025, the FDIC, Federal Reserve Board and the OCC issued a joint press release to announce their intent to issue a proposal to rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA Framework that existed prior to the October 2023 final rule. The goal of the agencies is to promote consistency in the approach on the implementation of the CRA.
What does this mean for Institutions?
The new rules were to become effective January 1, 2026. Since they are proposing to rescind these rules, which were to take effect in 2026, Institutions will be examined under the old rules and will continue to be examined under the old rules until a final ruling is reached.
Those of you who decided to get a jump on things and post your CRA Public File to your website, although not required, it’s OK to leave it where it is. Just remember to include the updated Public File on your website when updates are necessary/required.
Institutions that have created or revised their policies and procedures should not toss these away. Set them aside, should the rule or components of the rule be resurrected. This way the Institution is ready if or when the new rules become effective.
TCA is A Better Way for great help and great tools to keep in compliance. Contact us today at [email protected] or by phone at (800) 934-7347.
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