Community Reinvestment Act Regulation

Forms and Documents

Document Name	Status
1557-0160 Supporting Statement for Final Rule 5-28-20 449PM.docx Supporting Statement A	2020-05-28

IC Document Collections

IC ID	Document Title	Status
41245	Qualifying Activities Confirmation and Illustrative List 25.05(c)	Modified
241896	Wholesale or Limited Purpose Bank Performance Standards 25.15	New
241895	CRA Credit Desert Confirmation 25.06	New
238851	Content and Availability of the Public File 25.28	Modified
238850	Reporting for Banks Evaluated under the General Performance Standards or a Strategic Plan 25.26	Modified
238849	Recordkeeping 25.25	Modified
238848	Retail Domestic Deposit Data Collection and Recordkeeping for Small Banks Evaluated under Small Bank Performance Standards 25.22	Modified
238847	Data Collection for Banks Evaluated under General Performance Standards or Strategic Plan 25.21	Modified
238846	Strategic Plan 25.18	Modified
238845	Consideration of Performance Context 25.16(c)	Modified
238844	Assessment Area 25.09	Modified

ICR Details

OMB Control No: 1557-0160	ICR Reference No: 202005-1557-005
Status: Historical Active	Previous ICR Reference No: 201912-1557-003
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: Approved without change	Conclusion Date: 07/08/2020
	Date Received in OIRA: 06/05/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2023	36 Months From Approved	12/31/2020
Responses	1,402	0	1,234
Time Burden (Hours)	603,260	0	113,351
Cost Burden (Dollars)	0	0	0

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Abstract: The Office of the Comptroller of the Currency (OCC) adopted a final rule to strengthen and modernize the Community Reinvestment Act (CRA) by clarifying and expanding the activities that qualify for CRA credit; updating where activities count for CRA credit; creating a more consistent and objective method for evaluating CRA performance; and providing for more timely and transparent CRA-related data collection, recordkeeping, and reporting. The goals of this reform are to make the framework more objective, transparent, consistent in application, and reflective of changes in banking. Accomplishing these goals will make the CRA framework a better tool to encourage national banks and savings associations (banks) to engage in more activities to serve the needs of their communities, particularly in low- and moderate-income (LMI) communities and other communities that have been underserved under previous versions of the CRA regulatory framework. Together, the OCC-regulated banks covered by this final rule conduct a majority of all CRA activity in the United States.

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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	Final or interim final rulemaking	85 FR 34734	06/05/2020

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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: 11

IC Title	Form No.	Form Name
Assessment Area 25.09
Retail Domestic Deposit Data Collection and Recordkeeping for Small Banks Evaluated under Small Bank Performance Standards 25.22
Recordkeeping 25.25
Content and Availability of the Public File 25.28
Data Collection for Banks Evaluated under General Performance Standards or Strategic Plan 25.21
Consideration of Performance Context 25.16(c)
Reporting for Banks Evaluated under the General Performance Standards or a Strategic Plan 25.26
Qualifying Activities Confirmation and Illustrative List 25.05(c)
Strategic Plan 25.18
CRA Credit Desert Confirmation 25.06
Wholesale or Limited Purpose Bank Performance Standards 25.15

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,402	1,234	0	168	0	0
Annual Time Burden (Hours)	603,260	113,351	0	489,909	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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 a change in 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? No

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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: 06/05/2020

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