On 11/24/2020, the OCC issued a proposed rulemaking on the Community Reinvestment Act’s (CRA) general performance standards. This proposal comes after the June 2020 final rule and provides the OCC’s planned approach to determine the CRA evaluation measure benchmarks, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the 2020 final rule. The proposal also explains how the OCC would assess significant declines in CRA activities levels in connection with performance context following the initial establishment of the benchmarks, minimums, and thresholds. Finally, the proposed rule would make clarifying and technical amendments to the 2020 final rule. Comments will be due 60 days after publication in the Federal Register.
The notice of proposed rulemaking can be found here.
The OCC release can be found here.