American Banker, May 25, 2018: Senate Democrats: Update CRA but don’t undercut it
WASHINGTON — A group of 16 Democratic senators, led by Sen. Mark Warner of Virginia, are calling on banking regulators to expand the Community Reinvestment Act’s reach and to avoid proposals that undermine the law.
The May 25 letter, addressed to the heads of the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., comes as the agencies consider ways to modernize the 40-year-old law.
