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    OCC Publishes Guidelines for Requesting Approval of a Strategic Plan

    July 31, 2019

    OCC published the Bulletin 2019-39 to inform national banks, federal savings associations, and federal branches of foreign banking organizations (collectively banks) about the guidelines for requesting approval to be evaluated under the Community Reinvestment Act (CRA), using the strategic plan option or to request approval to amend an approved Community Reinvestment Act strategic plan. OCC also issued Bulletin 2019-40 to inform banks subject to the Community Reinvestment Act about guidelines for requesting a designation as a wholesale or limited purpose bank for Community Reinvestment Act purposes or requesting confirmation of its exemption as a special purpose bank under the Community Reinvestment Act regulations.

    The guidelines summarize the OCC’s process for addressing bank requests for approval or amendment of a Community Reinvestment Act strategic plan and for designation as a wholesale or limited purpose bank for purposes of the Community Reinvestment Act, or bank requests for confirmation of its exemption from the Community Reinvestment Act as a special purpose bank, including

    • Information that a bank should provide to substantiate its request
    • Instructions on how to submit requests
    • The OCC review and approval processes, as applicable

    Bulletin 2019-40 rescinds and replaces an attachment to OCC Bulletin 1996-11, “Community Reinvestment Act: Guidelines for Requesting Designation as a Wholesale or Limited-Purpose Institution.” Bulletin 2019-39 rescinds:

    • OCC Bulletin 1996-11, “Community Reinvestment Act: Guidelines for Approval for a Strategic Plan & Wholesale or Limited Purpose Institution.”
    • Office of Thrift Supervision CEO Memo 268, “Strategic Plan and Wholesale/Limited Purpose Designations Under the CRA.”

     

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    Keywords: Americas, US, Banking, Guidelines, Strategic Plan, Community Reinvestment Act, Special Purpose Bank, Bulletin 2019-39, Bulletin 2019-40, OCC

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