On December 12, 2019, the FDIC and the OCC issued a Notice of Proposed Rulemaking (“NPR”) proposing comprehensive amendments to regulations implementing the Community Reinvestment Act (“CRA”). The NPR proposes to “clarify which activities qualify for CRA credit; update where activities count for CRA credit; create a more objective method for measuring CRA performance; and provide for more transparent, consistent, and timely CRA-related data collection, recordkeeping, and reporting.” Notably, the proposal expands the scope of activities that qualify for CRA credit; recognizes the evolution of the banking system by allowing for the establishment of additional assessment areas beyond existing branch-based assessment areas; and establishes more objective performance standards based on specific benchmarks and thresholds for measuring CRA activity.