The federal banking agencies on November 15 released final revisions to the Interagency Questions and Answers Regarding Community Reinvestment. The revisions focus primarily on community development, clarifying how the agencies will consider community development activities that benefit a broader statewide or regional area that includes a bank’s assessment area, among other things.

Nutter Notes: With respect to community development activities that are conducted in a broader statewide or regional area, the revised Questions and Answers provide that examiners will consider such activities for CRA credit even if they do not benefit the bank’s assessment area, provided that the bank has been responsive to community development needs and opportunities in its assessment area.