Community Reinvestment Act Proposed Rule

The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) have proposed changes to the Community Reinvestment Act (CRA), a federal law that encourages financial institutions to meet the credit needs of their local communities. While the CRA has long drawn mixed reactions across the banking industry, it also creates opportunities for institutions to work with community partners on projects that expand housing, support economic development, and strengthen the areas they serve.

Polsinelli shareholder and former OCC enforcement lawyer Travis Nelson examines how these changes could reshape community development under the CRA.