At its open Board meeting scheduled for October 24, 2023, the Federal Reserve Board is expected to approve its final rule amending its current regulation implementing the Community Reinvestment Act. The Federal Deposit Insurance Corporation is expected to approve its final CRA rule at the meeting of its Board of Directors also scheduled for October 24.
In May 2022, the Federal Reserve Board, the Office of the Comptroller of the Currency, and the FDIC issued a joint notice of proposed rulemaking setting forth proposed amendments to their regulations implementing the CRA. Presumably, the OCC will be issuing its final CRA rule shortly.