OCC Moves to Rescind 2020 Version of CRA Rule

HousingWire, Sept. 8, 2021–Maria Volkova
The Office of the Comptroller of Currency announced it is moving to gut the controversial Community Reinvestment Act rule issued in 2020. The Mortgage Bankers Association and the American Bankers Association had criticized the rule for setting overly complicated data reporting requirements that would inevitably present challenges for banks.