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Buckley Webcast: Community Reinvestment Act modernization – For real this time?

The OCC, FDIC, and Fed recently issued a proposed rule and request for comment as part of their continued efforts to modernize the Community Reinvestment Act, last overhauled in 1995. This proposal is a welcome demonstration of agency unity, but does it hit the right notes for a practical modern framework? The agencies pose 180 questions in the proposal, suggesting there is room for fine tuning. Unless extended, the comment submission deadline is August 5.

Buckley attorneys Warren TraigerJennifer Cheo, and  Lauren Bomberger, who are assisting financial services trade associations and individual banks with analyzing and commenting on the modernization proposal, discussed the substance of the rule, including how it differs from current law, which banks are affected, and key opportunities for comment.

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The information contained herein is for informational purposes only, does not constitute legal advice, and does not necessarily reflect the opinions of Buckley LLP or any of its attorneys or clients. This presentation is not intended to create, and does not create, an attorney-client relationship between you and Buckley LLP, or any of the presenters, and you should not act or rely on any information in this presentation without consulting legal counsel. The information contained in this presentation may or may not reflect the most current legal developments. Accordingly, information in this presentation is not promised or guaranteed to be correct or complete, and it should not be considered an indication of future results. Buckley LLP expressly disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this presentation.