The OCC Issues Final CRA Rule – What Changed and What’s Next?
On May 20, 2020, the OCC issued a Final Rule intended to strengthen and modernize the Community Reinvestment Act. The Final Rule addresses the dramatic changes that have occurred in the banking industry since the CRA’s enactment in 1977 and the last round of extensive regulatory revisions in 1995 and will significantly impact national banks and federal savings banks. In this webinar, special guest Kenneth H. Thomas, Ph.D. of Community Development Fund Advisors, will join Alan S. Kaplinsky, Scott A. Coleman and Lori Sommerfield of Ballard Spahr to discuss the Final Rule. Topics will include:
- A comparison between the proposed joint rule issued by the OCC/FDIC and the Final Rule by the OCC
- The differences between the OCC’s Final Rule and the current rule
- What is next for state chartered institutions not regulated by the OCC
- The opposition of community groups to the Final Rule
- What the Final Rule gets right and gets wrong