Yesterday, the Federal Deposit Insurance Corporation, the Federal Reserve, and the Office of the Comptroller of the Currency approved a final rule that substantially reforms bank requirements under the Community Reinvestment Act (CRA) regulations. According to the regulators, the new rule modernizes the CRA requirements to reflect market developments since the regulations were last overhauled in 1995 and to encourage more critical investment and lending to benefit low- and moderate-income households and communities.