The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina. More specifically, banks may continue to receive CRA consideration for community development loans, investments, and services for disaster-related revitalization or stabilization activities through December 31, 2014. The Bulletin notes that weight will be given to activities that benefit low- and moderate-income individuals and areas and banks may receive CRA consideration if the activities are outside their assessment area, including activities aimed at benefiting displaced individuals across the country.
Click here to read OCC Bulletin 2012-8
