On October 24, 2023, the Federal Reserve Board, the FDIC and the OCC jointly issued a final rule to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. The CRA is a landmark law enacted in 1977 to encourage banks to help meet the credit needs of their entire communities, especially in low- and moderate-income neighborhoods, in a safe and sound manner.

On December 19, 2022, the Federal Reserve Board and the FDIC issued the 2023 updated asset-size thresholds used to define "small bank" and "intermediate small bank" under their Community Reinvestment Act (CRA) regulations. On December 29, 2022, the OCC released a similar notice of asset-size threshold adjustments. Annual adjustments to these asset-size thresholds are based on the average change in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a measure of inflation.

On December 15, 2022, the federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), released the 2021 Small Business, Small Farm, and Community Development Lending Data. The analysis was conducted using data compiled for banks, savings and loan associations, and savings banks reporting under the CRA regulations.

On July 1, 2022, the OCC announced that the Federal Agencies have released the 2022 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition.

On May 5, 2022, the federal bank regulatory agencies issued a joint proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law that encourages banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI) neighborhoods, in a safe and sound manner.

On April 19, 2022, Acting Comptroller of the Currency Michael J. Hsu spoke at the Black Homeownership Collaborative’s Fair Housing Month Virtual Forum where he discussed expanding access to homeownership for minorities.

On April 7, 2022, the OCC published the latest edition of its Community Developments Investments newsletter, “Partners in Recovery: Community Reinvestment and Resilience.” This edition of Community Developments Investments discusses how banks and community development financial institutions can work together to help rebuild communities that have been affected by the COVID-19 pandemic and natural disasters.

On 2/22/2022, the OCC issued answers to frequently asked questions (FAQ) about the December 2021 final rule to rescind the OCC's Community Reinvestment Act (CRA) rule issued on June 5, 2020 (June 2020 CRA rule). The December 2021 CRA final rule, which became effective on January 1, 2022, replaced the June 2020 CRA rule with provisions largely based on the rules adopted jointly by the OCC, the FRB, and the FDIC in 1995, as revised.

On 2/14/2022, Acting Comptroller of the Currency Michael J. Hsu spoke before the National Community Reinvestment Coalition where he announced that the OCC, the Federal Reserve, the FDIC will release a joint CRA Notice of Proposed Rulemaking (NPR) in the not-too-distant future. This step, according to Hsu, is aimed at strengthening and modernizing the regulation implementing the CRA in order to expand financial access and inclusion for low- and moderate-income (LMI) communities.