The Community Reinvestment Act (CRA) is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations. It was enacted by Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228).
The CRA requires that each depository institution’s record in helping meet the credit needs of its entire community be evaluated periodically by the appropriate federal financial supervisory agency. A bank’s CRA performance record is taken into account when considering an institution’s application for deposit facilities.
On October 24, 2023, the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) issued a final rule amending the agencies’ CRA regulations. In developing the final rule, the agencies’ objectives included updating the CRA regulations to strengthen the achievement of the core purpose of the statue, and adapting to changes in the banking industry, including the expanded role of mobile and online banking. The final rule reflects substantial feedback from stakeholders, including feedback received in response to the Board’s Advance Notice of Proposed Rulemaking (ANPR) issued in October 2020, and the Notice of Proposed Rulemaking (NPR) issued by the three agencies in May 2022.
Learn more about the final rule on the Board of Governors' website.
The performance evaluations for banks not supervised by the Federal Reserve are also available:
Interagency information about the CRA is available from the Federal Financial Institutions Examination Council (FFIEC).
For an interactive look at the history of the CRA, explore this timeline.