Https://www.federalr Eserve.gov/consumers Communities/files/cr A-fact-sheet-2022050 5.pdf

cra-fact-sheet-20220505.pdf
Preview of https://www.federalr eserve.gov/consumers communities/files/cr a-fact-sheet-2022050 5.pdf
🔗 Source: federalreserve.gov
📊 Size: 120 KB
👤 Author: Federal Reserve
⬇️ Downloads: 69

Summary

The Community Reinvestment Act (CRA) encourages banks to meet credit needs of their entire community, focusing on low- and moderate-income (LMI) communities. A joint proposal by the Federal Reserve Board, FDIC, and OCC aims to:
• Expand access to credit and services in LMI communities
• Adapt to changes in the banking industry, including online and mobile banking
• Provide greater clarity, consistency, and transparency in CRA evaluations
• Tailor evaluations and data collection to bank size and type
• Maintain a unified approach, incorporating stakeholder feedback.

Description

The Community Reinvestment Act (CRA) encourages banks to meet credit needs of their entire community, focusing on low- and moderate-income (LMI) communities.

Technical Information

  • File Format: PDF
  • File Size: 120 KB
  • Pages: 1
  • Language: EN
  • Author: Federal Reserve
  • Total Downloads: 69
  • Last Updated: 1 month ago

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