The federal banking agencies on March 18 released a proposal to revise the Interagency Questions and Answers Regarding Community Reinvestment. Among other things, the proposed revisions would clarify how the agencies consider community development activities that benefit a broader statewide or regional area that includes an institution’s assessment area. Comments on the proposed revisions are due by May 17.

Nutter Notes: The proposed revisions would also describe additional ways to determine whether recipients of community services are low- or moderate-income, and include service on the board of directors of a community development organization as an example of a technical assistance activity that can be provided to community development organizations for CRA credit.