On July 15, the federal bank regulatory agencies with responsibility for Community Reinvestment Act (CRA) rulemaking—the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC)—published final revisions to the “Interagency Questions and Answers Regarding Community Reinvestment.” The Questions and Answers document provides additional guidance to financial institutions and the public on the agencies’ CRA regulations. The agencies are adopting as final revisions to the Questions and Answers based on the proposal issued on September 10, 2014 addressing alternative systems for delivering retail banking services; community development related issues; and the qualitative aspects of performance, including innovative or flexible lending practices and the responsiveness and innovativeness of an institution’s loans, qualified investments, and community development services.

More information from the FDIC is available here.