Description
Learn how the interagency proposed rule will change the existing framework and the impact on banks.This topic will cover current efforts to update and expand the reach of the Federal Community Reinvestment Act, as well as federal and state legislation and other initiatives. You will learn how the interagency proposed rule will change the existing framework and impact banks based on size digital footprint, and potential scrutiny for nonbanks.
Date: 2023-10-06 Start Time: End Time:
Learning Objectives
Review of Proposed Federal Rule- Objectives
• Consistent Regulatory Approach Among 3 Banking Agencies
• Maintain Facility-Based Assessment Areas With Updated Additional Activities
• Develop Publicly Available List of Pre-Approved CRA Activities
• Distribution and Impact Benchmark Measures of CRA Activity
• Performance Standards to Account for Differences in Bank Sizes, Business Model, and Local Conditions
• Standardized Reporting and Recordkeeping Leveraging Existing Data With Access to Annually Reported Industry Data
• Increased Focus on LMI Individuals and Areas, Small Businesses and Small Farms, and Rural and Underserved Areas
• Maintains Option for Strategic Plan Evaluation With More Specific Criteria
• Ensure CRA and Fair Lending Are Mutually Reinforcing
Review of Proposed Federal Rule-Large Bank Assessment
• Retail Lending Test
• Retail Services and Products Test
• Community Development Financing Test
• Community Development Services Test
Review of Proposed Federal Rule-Small and Intermediate Banks
• Small Banks-Existing Criteria or Opt-in Solely Under New Retail Lending Test
• Intermediate Banks-New Retail Lending and Existing Community Development Evaluation, With Opt-in for to New Community Development Financing Test
Proposed Federal Rule-Feedback and Implementation
Recent State CRA Updates
Legislative Proposals
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Barbara S. Meeks-Chapman and Cutler LLP
