ABA Banking Journal
The federal banking agencies today finalized minor amendments to their respective Community Reinvestment Act regulations to address recent changes to Regulation C, which implements the Home Mortgage Disclosure Act. Specifically, the amendments revise the definition of “home mortgage loan” and “consumer loan” and update the requirements for CRA public files to reflect changes to Reg C. In addition, the rule also eliminates references to the Neighborhood Stabilization Program, a crisis-era initiative by the Department of Housing and Urban Development to help communities and local governments redevelop foreclosed properties. The NSP ended in 2016. For more information, contact ABA’s Krista Shonk.
