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Community Reinvestment Act

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.

Note: Most of the final rule’s new requirements are applicable beginning January 1, 2026. The remaining new requirements, including data reporting requirements, are applicable on January 1, 2027.

Learn more about the final rule on the Board of Governors' website.

Search for the performance evaluations of state member banks examined by the Federal Reserve, including the Federal Reserve Bank of Cleveland, on the Board’s performance evaluation database.

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.

Resources

Webinar

January 10, 2024
A pre-recorded webinar provides an overview of the new CRA rule and its objectives. Additional topics in the recording include assessment areas, community development, evaluation framework, performance tests, ratings, data collection and reporting, and applicability dates.

Banking Supervision, Credit Risk, and Statistics

Cleveland Fed employees in Banking Supervision, Credit Risk, and Statistics (SCS) assist the Bank in supervising and promoting the safety and soundness of banks and other financial institutions in our region.

Banking Supervision

As part of the nation's central bank, the Cleveland Fed supervises financial institutions in the Cleveland Fed's region. Our employees in Banking Supervision promote a safe and sound banking system, foster financial market stability, and support compliance with laws and regulations, including those relating to consumer protection.

Credit Risk

Credit Risk employees provide liquidity to the banking system, work to avoid losses that undermine the integrity of payment systems or the credibility of the Federal Reserve System, and facilitate the implementation of monetary policy.

Statistics and Analysis

Teams in Statistics and Analysis support monetary policymaking, supervision and regulation, and fiscal agency responsibilities through collecting, analyzing, and ensuring the quality of financial and banking structure information.

Community Development

Working from three cities—Cleveland, Pittsburgh, and Cincinnati—our Cleveland Fed Community Development team promotes the economic resilience and mobility of low- and moderate-income (LMI) people and communities throughout our District.

Learn more