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Federal bank regulatory agencies jointly issued an interim final rule on Thursday that extends the applicability date of certain provisions in their Community Reinvestment Act final rule issued in October 2023.
The agencies also requested comment on the extension.
The agencies extended the applicability date of the facility-based assessment areas and public file provisions from April 1, 2024, to Jan. 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 Jan. 1, 2026. This extension aligns these provisions with other substantive parts of the 2023 CRA final rule that are applicable on Jan. 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 Jan. 1, 2026.