ICBA Community Bank Briefing: Discussion of Community Reinvestment Act - Final Rule

On October 24th, the banking agencies finalized significant changes to the Community Reinvestment Act (CRA). The final rule is designed to adapt CRA regulations to banking industry changes, improve clarity to regulated institutions, tailor evaluations and data collection to bank size and type, and maintain a unified interagency approach. The final rule takes effect in April 2024 and will require bank compliance by January 1, 2026.

The discussion will address:

• The new “small,” “intermediate,” and “large” bank definitions and the key evaluation differences among each tier.

• Evaluation of a bank’s assessment area and what it means in this new era for CRA.

• The concept of CRA qualifying activities and why it is important for banks to understand.

• Important implementation dates for all community bankers to know.

While the mandatory compliance date seems far away, there are key elements of this final rule that all community banks should be aware of right now. Join ICBA experts to discuss the final changes, how they might impact your bank, and what you can begin doing to prepare for the effective date.

ICBA wants to hear from you; participants are encouraged to bring questions to the briefing as the ICBA experts will take questions from community bankers during the Q&A session.