Banking Agencies Finalize New and Revised CRA Q&As

The federal banking agencies have finalized Community Reinvestment Act (CRA) Questions and Answers (Q&As) proposed in 2014 and published a single set of Q&As that consolidates these new Q&As with those previously issued. The agencies adopted all but one of their proposals, which address: economic development; examples of community development; innovative or flexible lending practices; the service test; and responsiveness and innovativeness generally. The Q&As also include a number of technical corrections.