^®: CRE Regulatory Action of the Week

Treasury Proposes Changes to Community Reinvestment Q & A
The Office of the Comptroller of the Currency, the Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation request public comment on their proposed clarification of their Interagency Questions and Answers Regarding Community Reinvestment. These proposed changes include revisions to five questions and answers, which address (i) community development activities outside institutions' assessment areas, both in the broader statewide or regional area and in nationwide funds; (ii) additional ways to determine whether recipients of community services are low- or moderate-income; and (iii) providing a community development service by serving on the board of directors of a community development organization. Comments to the agencies on the proposed questions and answers must be received on or before May 17, 2013.