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Agencies Delay Applicability Dates of Certain New CRA Requirements. The OCC, Federal Reserve, and FDIC have issued an interim final rule extending the effective dates of certain provisions in their revised Community Reinvestment Act (CRA) final rule. New requirements for public CRA files and delineating facility-based assessment areas will now apply on January 1, 2026 (extended from April 1, 2024). The agencies also have amended the CRA final rule to reflect the extended applicability dates and other clarifications. The interim final rule and amendments are effective on April 1, 2024. Read the announcement, interim final rule, OCC Bulletin 2024-9, and FDIC FIL-12-2024.
March 25, 2024
FDIC Proposes Revising Policy Statement on Bank Merger Transactions. The FDIC has proposed revising its Statement of Policy on Bank Merger Transactions to reflect legislative and other developments that have occurred since its last update in 2008. Among other changes, the revisions reflect a new statutory factor for evaluating merger transactions regarding risk to the stability of the U.S. banking system. Comments are due sixty days after publication in the Federal Register. Read the announcement, proposed Statement of Policy, FIL-11-2024, and Chair Gruenberg’s statement.
March 25, 2024
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