Community Reinvestment Act Regulation

The Community Reinvestment Act (CRA) is designed to encourage regulated banks to help meet the credit needs of the local communities in which they are chartered, consistent with safety and soundness. Specifically, Congress found that “(1) regulated financial institutions are required by law to demonstrate that their deposit facilities serve the convenience and needs of the communities in which they are chartered to do business; (2) the convenience and needs of communities include the need for credit as well as deposit services; and (3) regulated financial institutions have continuing and affirmative obligation to help meet the credit needs of the local communities in which they are chartered.” The CRA statute requires the agencies to “assess the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution.” Upon completing this assessment, the statute requires the agencies to “prepare a written evaluation of the institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods.” In addition, the statute requires making portions of these written evaluations, referred to by the agencies as performance evaluations, available to the public. The statute further provides that each agency must consider a bank’s CRA performance “in its evaluation of an application for a deposit facility by such institution.” This ICR is being submitted in connection with an interagency final rule issued by the OCC, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation to strengthen and modernize their regulations implementing the CRA.

The latest form for Community Reinvestment Act Regulation expires 2027-03-31 and can be found here.

Facility-Based Assessment Areas Section: __.42(f)(1) - Reporting

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight