Agencies Propose to Expand Scope of Community Reinvestment Act Regulations

July 1, 2010

The federal bank and thrift regulatory agencies announced on June 17, 2010 a proposed change to the Community Reinvestment Act (CRA) regulations to support stabilization of communities affected by high foreclosure levels. The proposed change specifically would encourage depository institutions to support the Neighborhood Stabilization Program (NSP) administered by the U.S. Department of Housing and Urban Development (HUD).