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Advanced Search Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Home > News & Events > Press Releases Joint Press Release September 29, 2010 Agencies Issue Final Community Reinvestment Act Rule to Implement Provision of Higher Education Opportunity Act Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency Office of Thrift Supervision For immediate release Share The federal banking and thrift regulatory agencies today announced a final Community Reinvestment Act (CRA) rule to implement a provision of the Higher Education Opportunity Act. The provision requires the agencies to consider low-cost higher education loans to low-income borrowers as a positive factor when assessing a financial institution's record of meeting community credit needs under the CRA. The rule also incorporates a CRA statutory provision that allows the agencies to consider a financial institution's capital investment, loan participation, and other ventures with minority-owned financial institutions, women-owned institutions and low-income credit unions as factors in assessing the institution's CRA record. This provision was published on March 11, 2010, in the Interagency Questions and Answers Regarding Community Reinvestment. The attached final rule, issued jointly by the Board of Governors of the Economic Research Data Consumers & Communities Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Office of Thrift Supervision, will be published shortly in the Federal Register. More information on CRA regulations and examination procedures is available on the Federal Financial Institutions Examination Council (FFIEC) website at: http://www.ffiec.gov/cra. Federal Register notice: HTML | 100 KB PDF Media Contacts: Federal Reserve Board Susan Stawick FDIC Greg Hernandez OCC Kevin Mukri OTS William Ruberry 202-4522955 202-8986984 202-8745770 202-9066677 Last Update: September 29, 2010 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551