Community Reinvestment Act (CRA)
The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was substantially revised in May 1995 and updated again in August 2005.
The CRA requires that each depository institution’s record in helping meet the credit needs of its entire community be evaluated by the appropriate Federal financial supervisory agency periodically. Members of the public may submit comments on a bank’s performance. Comments will be taken into consideration during the next CRA examination. A bank’s CRA performance record is taken into account in considering an institution’s application for deposit facilities.
Information in this section is related to state member banks that are examined by the Federal Reserve. CRA information on other depository institutions is available from the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC). Interagency information about the CRA is available from the Federal Financial Institutions Examination Council (FFIEC).
Interagency Questions and Answers Regarding Community Reinvestment, as published in the Federal Register on July 25, 2016 (PDF)
1. Comments received between CRA examinations will be held and considered during the next scheduled examination. The time between examinations varies and may be as long as 48 or 60 months for small banks with satisfactory or outstanding ratings. Written comments about a bank’s CRA performance or opportunities to help meet community credit needs may also be sent to the bank directly at any time. To encourage communication between members of the public and banks; we will share your comments with the bank.
Consumers with complaints and questions on other aspects of a bank’s performance may submit them at: http://www.federalreserveconsumerhelp.gov/. Return to text