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OCC Bulletin 2021-41 | September 8, 2021

Community Reinvestment Act: Proposal to Rescind and Replace Community Reinvestment Act Rule Issued in 2020


Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches; Department and Division Heads; All Examining Personnel and Other Interested Parties


On September 8, 2021, the Office of the Comptroller of the Currency (OCC) issued a proposal to rescind the Community Reinvestment Act (CRA) rule that the OCC published in June 2020 and replace it with rules based largely on the rules adopted jointly by the federal banking agencies in 1995. The proposed rules would align the OCC’s CRA rules with the current Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation rules and thereby facilitate the on-going interagency work to modernize the CRA regulatory framework and create consistency for all insured depository institutions.

Many aspects of the OCC’s CRA 2020 rule remain in transition and have not yet been implemented (i.e., banks are still subject to the 1995 rule in most respects). Therefore, the OCC anticipates that the proposed rules would have a limited impact on national banks and savings associations. Transition considerations are, however, discussed in detail in the preamble of the proposed rules.

Comments on the proposal must be received on or before October 29, 2021.

Note for Community Banks

The proposed rules would apply to all national banks and federal savings associations, including community banks, covered by the CRA, as well as to state savings associations.

Further Information

Please contact Emily Boyes, Counsel, Chief Counsel’s Office, at (202) 649-5490; Vonda Eanes, Director for CRA and Fair Lending Policy, Bobbie K. Kennedy, Technical Expert for CRA and Fair Lending, or Karen Bellesi, Director for Community Development, Bank Supervision Policy, at (202) 649-5470.


Benjamin W. McDonough
Senior Deputy Comptroller and Chief Counsel

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