Joint Release
Board of Governors of the Federal Reserve
System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For immediate release September 13, 2017
Media Contacts:
Federal Reserve Board Susan Stawick 202-452-2955
FDIC Greg Hernandez 202-898-6984
OCC William Grassano 202-649-6870
FDIC: PR-70-2017
Last Updated 9/13/2017 communications@fdic.gov
Agencies to Propose Amending CRA Regulations to Conform to HMDA
Regulation Changes, and Remove References to the Neighborhood Stabilization
Program
WASHINGTON—The federal bank regulatory agencies today issued a joint notice of proposed
rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to
conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which
implements the Home Mortgage Disclosure Act (HMDA).
Since 1995, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, and the Office of the Comptroller of the Currency have conformed certain definitions in their
respective CRA regulations to the scope of loans reported under Regulation C and believe that continuing
to do so produces a less-burdensome CRA performance evaluation process. In particular, the agencies
are proposing to amend their CRA regulations to revise the definitions of "home mortgage loan" and
"consumer loan," as well as the public file content requirements. These revisions would maintain
consistency between the CRA regulations and the recent changes to Regulation C, which generally
become effective on January 1, 2018.
In addition, the draft proposal contains technical revisions and would remove obsolete references to the
Neighborhood Stabilization Program.
Comments on the proposal will be accepted for 30 days after publication in the Federal Register. The
agencies anticipate that the proposed amendments to their CRA regulations will become effective also on
January 1, 2018.
# # #
Attachment:
Community Reinvestment Act Regulations
Board of Governors of the Federal Reserve
System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
For immediate release September 13, 2017
Media Contacts:
Federal Reserve Board Susan Stawick 202-452-2955
FDIC Greg Hernandez 202-898-6984
OCC William Grassano 202-649-6870
FDIC: PR-70-2017
Last Updated 9/13/2017 communications@fdic.gov
Agencies to Propose Amending CRA Regulations to Conform to HMDA
Regulation Changes, and Remove References to the Neighborhood Stabilization
Program
WASHINGTON—The federal bank regulatory agencies today issued a joint notice of proposed
rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to
conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which
implements the Home Mortgage Disclosure Act (HMDA).
Since 1995, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance
Corporation, and the Office of the Comptroller of the Currency have conformed certain definitions in their
respective CRA regulations to the scope of loans reported under Regulation C and believe that continuing
to do so produces a less-burdensome CRA performance evaluation process. In particular, the agencies
are proposing to amend their CRA regulations to revise the definitions of "home mortgage loan" and
"consumer loan," as well as the public file content requirements. These revisions would maintain
consistency between the CRA regulations and the recent changes to Regulation C, which generally
become effective on January 1, 2018.
In addition, the draft proposal contains technical revisions and would remove obsolete references to the
Neighborhood Stabilization Program.
Comments on the proposal will be accepted for 30 days after publication in the Federal Register. The
agencies anticipate that the proposed amendments to their CRA regulations will become effective also on
January 1, 2018.
# # #
Attachment:
Community Reinvestment Act Regulations