2023 Community Reinvestment Act Final Rule Rescinded

The federal bank regulatory agencies announced, in light of pending litigation, their intent to issue a proposal to both rescind the Community Reinvestment Act (CRA) final rule issued in October 2023 and reinstate the CRA framework that existed prior to the October 2023 final rule. The agencies will continue to work together to promote a consistent regulatory approach on their implementation of the CRA.

The October 2023 final rule was the first major revision to CRA regulations, which were established in 1977, in nearly three decades. The final rule was scheduled to take effect in April while requiring bank compliance by Jan. 1, 2026.

Community Reinvestment Act (CRA) regulations remain largely under the 1995/2021 framework. See the Community Reinvestment Act chapter of The Gold Book for details and upcoming rules as they are announced.