Proposed revisions to Community Reinvestment Act regulations.
The federal banking agencies published on March 11, 2005, a joint
notice of proposed rulemaking A notice of proposed rulemaking or NPRM is issued by law when a regulatory agency of the United States Federal Government wishes to add, remove, or change a rule (or regulation) as part of the rulemaking process.
Outside the USA. in the Federal Register that would revise
certain provisions in their regulations implementing the Community
Reinvestment Act Community Reinvestment Act (CRA)
Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. (CRA See Community Reinvestment Act. ).
The revisions are intended to reduce regulatory burden on community
banks while making CRA evaluations more effective in encouraging banks
to meet community development needs.
COPYRIGHT 2005 Board of Governors of the Federal Reserve System
No portion of this article can be reproduced without the express written permission from the copyright holder.
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