The Office of the Comptroller of the Currency (OCC) issued a final rule to rescind the June 2020 Community Reinvestment Act (CRA) rule and replace it with a rule based on the rules adopted jointly with the Federal Deposit Insurance Corporation and Board of Governors of the Federal Reserve System (collectively The Agencies). The rule is effective as of Jan. 1, 2022. The OCC is accepting comments to the following questions related to information collection:  

  1. Whether the collections of information are necessary for the proper performance of the OCC’s functions, including whether the information has practical utility; 
  2. The accuracy or the estimate of the burden of the information collections, including the validity of the methodology and assumptions used; 
  3. Ways to enhance the quality, utility, and clarity of the information to be collected; 
  4. Ways to minimize the burden of the information collections on respondents, including through the use of automated collection techniques or other forms of information technology; and 
  5. Estimates of capital or startup costs and costs of operation, maintenance and purchase of services to provide information. 

NH&RA looks forward to working with our partners and The Agencies to craft a new CRA rule that emphasizes investment in LIHTCs and community development.