In today’s Federal Register (79 FR 53838) the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) published proposed revisions to their “Interagency Questions and Answers Regarding Community Reinvestment,” which provides guidance on the above federal agencies’ (collectively the Agencies) regulations implementing the Community Reinvestment Act (CRA). The Agencies also requested public comment on the proposed revisions. The proposed revisions: 1. Revise three questions and answers that address (i) alternative systems for delivering retail banking services and (ii) additional examples of innovative or flexible lending practices. 2. Revise three questions and answers addressing community development-related issues, including economic development, community development loans, and activities that are considered to revitalize or stabilize an underserved nonmetropolitan middle-income geography. 3. Add four new questions and answers, two of which address community development services, and two of which provide general guidance on responsiveness and innovativeness. To read or print a copy of the proposed revisions, click on this hyperlink: (79 FR 53838). Clients interested in commenting on the proposed revisions must submit comments to one or more of the Agencies in the manner set out on page 53838 of the September 10, 2014 Federal Register cited above. Comments must be received on or before November 10, 2014.

Complete Memorandum