August 3, 2026, BankingDive, OCC, FDIC Propose Another CRA Revamp
In a statement Friday, Jesse Van Tol, CEO of the National Community Reinvestment Coalition, an advocacy group, said the proposal “dramatically weakens banks’ obligations to invest in working-class communities and threatens to undermine” affordable housing measures put into law just two weeks ago.
“Bank capital drives the creation of affordable housing in this country, and they do it because of CRA,” Van Tol said. “Now hundreds of banks won’t have the obligation to do so, and hundreds more will have a weaker requirement, which will further deepen our housing crisis.”
