Answer:
Recently the federal financial institution regulatory agencies announced they are working together on CRA revisions. The Office of the Comptroller of the Currency announced they are rescinding the final CRA rule they published in May 2020. Now that the agencies are working together real CRA reform can occur; however, final regulations will not likely be completed until 2022 or 2023.
Learn more about Jack Holzknecht’s How to Obtain and Retain an Outstanding CRA Rating webinar.
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