Agencies Extend Deadlines For Certain Provisions in the CRA Final Rule


Federal bank regulatory agencies  jointly issued an interim final rule that extends the applicability date of certain provisions in their Community Reinvestment Act (CRA) final rule issued in October 2023. The agencies also requested comment on the extension.

The two provisions that are likely to be of the most interest to our Bank Members are:

  1. The applicability date of the requirement to put the bank’s CRA public file on its website has been moved to January 1, 2026 from April 1, 2024, to conform to the date on which certain changes in the file will be required; and,
  2. The date on which large banks will be required to take full counties as assessment areas has also been moved to January 1, 2026 from April 1, 2024, so that the requirement will go into effect at the same time the new Large Bank thresholds go into effect.

Formal Press Release:

To promote clarity and consistency, the agencies extended the applicability date of the facility–based assessment areas and public file provisions from April 1, 2024 to January 1, 2026. Therefore, banks will not have to make changes to their assessment areas or their public files as a result of the 2023 CRA final rule until January 1, 2026. This extension aligns these provisions with other substantive parts of the 2023 CRA final rule that are applicable on January 1, 2026. For example, all provisions about where banks are evaluated will now apply on the same date. Comments on the extended applicability date must be received 45 days after the rule is published in the Federal Register.

In addition, the agencies also issued technical, non–substantive amendments to the CRA final rule and related agency regulations that reference it. For example, one of these technical amendments clarifies that banks do not need to make changes to their public notices until January 1, 2026.

In October 2023, the agencies finalized updates to strengthen and modernize regulations implementing the CRA to better achieve the purposes of the law. The CRA is a landmark law enacted nearly 50 years ago to encourage banks to help meet the credit needs of their entire communities, including low– and moderate–income neighborhoods, consistent with banks’ safe and sound operation.