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Final Revisions to Interagency Q&A Regarding Community Reinvestment Act (CRA) Released

The federal bank regulatory agencies with responsibility for CRA rulemaking have published final revisions to “Interagency Questions and Answers Regarding Community Reinvestment.” The Questions and Answers document provides additional guidance to financial institutions and the public on the agencies’ CRA regulations.

The new and revised guidance addresses questions raised by bankers, community organizations and others regarding the agencies’ CRA regulations in the following areas:

  • Availability and effectiveness of retail banking services
  • Innovative or flexible lending practices
  • Community development-related issues, including economic development; community development loans and activities that revitalize or stabilize underserved nonmetropolitan middle-income geographies; and community development services
  • Responsiveness and innovativeness of an institution’s loans, qualified investments and community development services

For more information on the CRA, the agencies’ CRA regulations and the agencies’ Questions and Answers, please visit the Federal Financial Institutions Examination Council website at www.ffiec.gov.

White House Launches “The Opportunity Project”

“The Opportunity Project” is a new open data effort to improve economic mobility for all Americans. It will unleash the power of data, putting tools in the hands of civic leaders, community organizations and families to help them navigate information about critical resources such as access to jobs, housing, transportation, schools and other neighborhood amenities. A unique package of federal and local datasets has been released in an easy-to-use format, accelerating a new way for the federal government to collaborate with local leaders, technologists and community members to use data and technology to tackle inequities and strengthen communities. For more information, visit http://opportunity.census.gov.

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