The Federal Deposit Insurance Corporation, Federal Reserve Board and Office of the Comptroller of the Currency announced that, in light of pending litigation, they intend to propose rescinding the Community Reinvestment Act final rule issued in October 2023 and reinstating the CRA framework that applied before that rule, while continuing to coordinate to maintain a consistent approach to CRA implementation.
Federal Deposit Insurance Corporation 2025-03-28
Federal Deposit Insurance Corporation, Federal Reserve Board and Office of the Comptroller of the Currency plan proposal to rescind the 2023 Community Reinvestment Act rule and restore the prior framework
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency plan to propose rescinding the Community Reinvestment Act (CRA) final rule from October 2023 due to pending litigation. They aim to reinstate the previous CRA framework while ensuring coordinated implementation.