By Godson Umejiego, Senior Correspondent, USA

On May 5, 2022, the Federal Reserve System, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly released a Notice of Proposed Rulemaking (NPR) that would reform the Community Reinvestment Act (CRA) regulations.

The CRA seeks to address inequities in access to credit for low- and moderate-income, as well as underserved and rural communities. The agencies seek public feedback on the joint proposal, and comments are due on or before August 5, 2022.

On Wednesday, May 11, 2022 3:00 p.m. ET, policy experts from the agencies will host a special Ask the Regulators webinar on the NPR to strengthen and modernize CRA regulations. During the webinar, the agencies will provide an overview of the proposal and its objectives. Topics will include assessment areas, qualified activities, evaluation framework, ratings, and data collection and reporting. The webinar is open to the public.

Registration for the webinar is available at https://www.webcaster4.com/Webcast/Page/584/45470.

Says the FDIC: “We strongly encourage participants to use the webinar audio on their computer for the best experience. Webinar materials will be archived for future viewing.”

* Editor’s Note: This piece has been updated to include registration link.