Community Reinvestment Act Policy Form

Summary

This model Community Reinvestment Act Policy Form has been prepared for financial institutions subject to the federal Community Reinvestment Act (CRA). This template contains practical guidance and optional clauses. The CRA Policy must be drafted with Federal regulators and the CRA's purpose at the forefront of the policy. The CRA requires Federal financial institution regulators to assess the record of each financial institution in fulfilling its obligation to the community. The Federal financial institution regulators are: the Office of the Comptroller of the Currency (OCC); the Board of Governors of the Federal Reserve System; and the Federal Deposit Insurance Corporation (FDIC). The purpose is to encourage banks to help rebuild and revitalize communities through sound lending and good business judgment that benefits the banks and the communities they serve. The CRA does not apply to credit unions insured by the National Credit Union Share Insurance Fund (NCUSIF) or nonbank entities supervised by the Consumer Financial Protection Bureau (CFPB). For more information, see Financial Services Regulation Resource Kit. For information on the CRA and Financial Inclusion, see Community Reinvestment Act and Financial Inclusion.