JD Supra: OCC CRA Final Rule – Opposition from Consumer Advocacy Groups and Congress
On May 21, 2020, the National Community Reinvestment Coalition (“NCRC”), the California Reinvestment Coalition (“CRC”), and Democracy Now announced their intent to sue the OCC, stating that the agency was “unlawfully gutting” the CRA and pointing out that the agency had issued the final rule just five weeks after the public comment period had closed on the proposed rule. Citing the lack of a “fair and transparent” rulemaking process, the groups stated that they would see the OCC in court.
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