No CRA Change
If you were hoping for some adjustments to CRA, you can stop now. The OCC and the FRB have decided not to change the regulation. This means that the small bank size remains at $250 million for national banks and state member banks. In addition, there will be no change to the investment test or to the interpretations of community development lending and investing. Why, when these changes seemed like such a good idea, did this happen? Simple: advocacy groups opposed any change and the industry did not provide comments to support or justify the effort it would take to change the regulation.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 7, 7/04
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