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
Labor
Apr 06, 2026
Construction Helps Lead Job Growth in MarchThe U.S. labor market showed signs of a modest rebound in March following a weak February, as payroll employment increased and the unemployment rate edged down to 4.3%. Job growth was led by construction, healthcare, and transportation and warehousing.
Membership | HBA
Apr 03, 2026
NAHB Chairman Lays Out Vision for Future of the Federation in New VideoNAHB Chairman Bill Owens has launched Blueprint to 100, a modernization initiative in anticipation of NAHB’s 100th anniversary in 2042.
Latest Economic News
Economics
Apr 03, 2026
Job Growth Rebounds in MarchThe U.S. labor market showed signs of a modest rebound in March following a weak February, as payroll employment increased and the unemployment rate edged down to 4.3%. Job growth was led by healthcare, construction, and transportation and warehousing.
Economics
Apr 02, 2026
Iran Conflict Reverses Decline in Mortgage RatesMortgage rates, which dipped below 6% in February, climbed back up to end the month just under 6.4%. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.18% in March, 13 points (bps) higher than February. The average 15-year rate also increased by the same amount to 5.56%. Despite the recent increase, both rates remain lower than a year ago by 47 bps and 27 bps, respectively.
Economics
Apr 01, 2026
Consumer Confidence Climbs Despite Oil Price SurgeConsumer confidence in March rose to a three-month high as consumers’ improved view of current business and labor market conditions outweighed weaker future expectations.