Community Reinvestment Act Regulation

Forms and Documents

Document Name	Status
1557-0160 Supporting Statement for NPR 12-17-19.doc Supporting Statement A	2019-12-17

IC Document Collections

IC ID	Document Title	Status
41245	Qualifying Activities Confirmation and Illustrative List 25.05(c)	Modified
238851	Content and Availability of the Public File 25.25	New
238850	Reporting for Banks Evaluated under the General Performance Standards or a Strategic Plan 25.23	New
238849	Recordkeeping 25.22	New
238848	Retail Domestic Deposit Data Collection and Recordkeeping for Small Banks Evaluated under Small Bank Performance Standards 25.20	New
238847	Data Collection for Banks Evaluated under General Performance Standards or Strategic Plan 25.19	New
238846	Strategic Plan 25.16	New
238845	Consideration of Performance Context 25.14(c)	New
238844	Assessment Area 25.08	New

ICR Details

OMB Control No: 1557-0160	ICR Reference No: 201912-1557-003
Status: Historical Inactive	Previous ICR Reference No: 201711-1557-005
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Community Reinvestment Act Regulation
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 02/12/2020
	Date Received in OIRA: 01/09/2020
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11(c). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Resubmit when proposed rule is finalized.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2020	36 Months From Approved	12/31/2020
Responses	1,234	0	1,234
Time Burden (Hours)	113,351	0	113,351
Cost Burden (Dollars)	0	0	0

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Abstract: The OCC submits this ICR pursuant to a proposed rule issued by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (agencies). The Community Reinvestment Act (CRA) encourages insured depository institutions to invest trillions of dollars into the communities they serve, including low- and moderate-income (LMI) neighborhoods. The regulations implementing the law have not been extensively revised since 1995. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are proposing regulations that encourage banks to provide billions more each year in CRA-qualified lending, investment, and services by modernizing the CRA regulations to better achieve the law’s underlying statutory purpose of encouraging banks to serve their communities by making the regulatory framework more objective, transparent, consistent, and easy to understand (NPR). To accomplish this, the NPR would strengthen the CRA regulations by (1) clarifying which activities qualify for CRA credit; (2) updating where activities count for CRA credit; (3) creating a more transparent and objective method for measuring CRA performance; and (4) providing for more transparent, consistent, and timely CRA-related data collection, recordkeeping, and reporting. These changes are intended to encourage banks to serve their entire communities, including LMI neighborhoods, more effectively through a clearer set of CRA activities and would provide clarity for all stakeholders.

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Authorizing Statute(s): US Code: 12 USC 2901 et seq. Name of Law: Community Reinvestment Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AE34	Proposed rulemaking	85 FR 1204	01/09/2020

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 9

IC Title	Form No.	Form Name
Assessment Area 25.08
Qualifying Activities Confirmation and Illustrative List 25.05(c)
Strategic Plan 25.16
Reporting for Banks Evaluated under the General Performance Standards or a Strategic Plan 25.23
Retail Domestic Deposit Data Collection and Recordkeeping for Small Banks Evaluated under Small Bank Performance Standards 25.20
Recordkeeping 25.22
Content and Availability of the Public File 25.25
Data Collection for Banks Evaluated under General Performance Standards or Strategic Plan 25.19
Consideration of Performance Context 25.14(c)

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The increase in burden is due to the implementation of new regulations.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/09/2020

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