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
Leadership Development
Dec 08, 2025
A New Chapter Set to Begin for NAHB’s Leadership Academy as Applications OpenWhat began as a simple concept two years ago has quickly become one of NAHB’s most impactful programs. The NAHB Leadership Academy is accepting applications for its 2026 cohort.
Awards | Publications
Dec 05, 2025
NAHB Members Recognized as ‘Young Guns & Legends’ by Industry’s Top MediaPro Builder magazine recently released its Class of 2025 “Young Guns & Legends” list that honors up-and-coming leaders and a collection of legends who have made career contributions to the housing industry.
Latest Economic News
Economics
Dec 08, 2025
Community Associations: A Growing Trend in 2024In 2024, 65.7% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 64.8% recorded in 2023, according to data tabulated from the Census Bureau’s Survey of Construction (SOC).
Economics
Dec 05, 2025
Mortgage Rates Continue to Trend Lower in NovemberThe average mortgage rate in November continued to trend lower to its lowest level in over a year. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.24% in November, 2 basis points (bps) lower than in October. Meanwhile, the 15-year rate increased 3 bps to 5.51%.
Economics
Dec 04, 2025
Number of Bathrooms in New Single-Family Homes in 2024Single-family homes started in 2024 typically had two full bathrooms, according to the U.S. Census Bureau’s Annual Survey of Construction. Homes with three full bathrooms continued to have the second largest share of starts at around 23%. Meanwhile, both homes with four full bathrooms or more and homes with one bathroom or less made up under ten percent of homes started.