Sign On Letter in Support of H.J. Res. 90 to Overturn the CRA Rule

Sign On Letter in Support of H.J. Res. 90 to Overturn the CRA Rule

U.S. House of Representatives
U.S. Capitol
Washington, DC 20515

Dear Representative:

On behalf of the undersigned organizations, we are writing to urge you to cosponsor and support H.J.Res. 90, a disapproval resolution that would overturn a poorly constructed rule change on the Community Reinvestment Act (CRA) hastily finalized in May, days before Comptroller Otting’s resignation from the agency, and published this month.

At the outset, it is critical to note that the Trump Administration is split on the CRA final rule. With a lack of interagency coordination among the nation’s bank regulators, different banks will be held to different reinvestment standards depending on their regulator – an outcome that both banks and advocates have cautioned against. Federal Reserve Chairman Jerome Powell testified just last week that he expects the agency to move forward with CRA updates intended to garner “broad support among the community of intended beneficiaries” something he considers to be “one non-negotiable condition for it.” The OCC’s final rule achieved no such support or consensus. The vast majority of public comments – about 90 percent – opposed the CRA evaluation measure and presumptive ratings framework that remains at the heart of the final rule, but the OCC adopted it anyway[1].

The OCC’s final rule makes a series of changes to the CRA regulatory framework that reduce incentives for banks to lend to low-and-moderate income(LMI) families and invest and serve LMI communities: home buyers and homeowners, small businesses, community development projects that primarily benefit and serve LMI people. It also expands the number of banks that will have no review of how they open and close bank branches and provide key bank services in LMI and underserved neighborhoods.

These harmful changes could not come at a worse time. The ongoing COVID-19 pandemic and widespread social unrest that is gripping the nation has hit LMI and communities of color the hardest and brought gapping disparities to the forefront. The changes to the CRA being pushed through by the OCC would do little to address the pressing national priorities of reducing the racial wealth gap, of better serving those traditionally underserved by the nation’s financial system or stimulating an economic recovery from COVID-19 that is equitable. While the OCC claims its aim is to increase CRA activity, the lack of interagency agreement among this Administration’s regulators should serve as a dire warning about that claim. We do not yet know the full impact of COVID-19 on local mortgage markets, small business resiliency, or how LMI households, neighborhoods, local jobs, and key sectors will recover. Weakening CRA at this moment is a blueprint for a crisis after the crisis.

For all these reasons and more, we urge you to cosponsor H.J.Res. 90 and support it when it is considered on the House floor.


National Groups
National Community Reinvestment Coalition (NCRC)
Americans for Financial Reform
Center for Community Progress
Consumer Action
Local Initiatives Support Corporation (LISC)
National Association for Latino Community Asset Builders (NALCAB)
National Housing Resource Center
National Housing Trust
National NeighborWorks Association
National Urban League
Prosperity Now
The Leadership Conference on Civil and Human Rights

Titusville Development Corporation

Arizona Housing Coalition
Local First Arizona
Local First Arizona Foundation

California Coalition for Rural Housing
California Reinvestment Coalition
California Resources and Training
CDC Small Business Finance
EAH Housing
Grounded Solutions Network
High Impact Financial Analysis, LLC
Peoples’ Self-Help Housing
The Greenlining Institute

Urban Land Conservancy

Neighborhood Housing Services of Waterbury

District of Columbia
Africa Diaspora Directorate

Delaware Community Reinvestment Action Council, Inc.
Edgemoor Revitalization Cooperative, Inc.
The Ministry of Caring Inc.

Affordable Homeownership Foundation, Inc.
Community Reinvestment Alliance of South Florida
Goldenrule Housing & Community Development Corp Inc
Metro North Community Development Corp.
Solita’s House

Hawai’i Alliance for Community-Based Economic Development

Accion Serving Illinois & Indiana
Chicago Community Loan Fund
Chicago Rehab Network
Housing Action Illinois
NW HomeStart, Inc
Woodstock Institute

Continuum of Care Network NWI, Inc.
Legacy Foundation
Prosperity Indiana

River City Housing

Multi-Cultural Development Center

Greater Boston Legal Services
Massachusetts Affordable Housing Alliance

African American Chamber of Commerce of Montgomery County
Maryland Consumer Rights Coalition
Maryland Consumer Rights Coalition
Rebirth Inc.
Residential Housing Counseling Agency

Coastal Enterprises, Inc.

Fair Housing Center of Metropolitan Detroit
Habitat for Humanity of Michigan
Southwest Economic Solutions

Metropolitan St. Louis Equal Housing and Opportunity Council

Hope Enterprise Corporation
Montgomery Citizens United for Prosperity (MCUP)

Montana Fair Housing, Inc.

North Carolina
Reinvestment Partners

New Jersey
NCRC Housing Rehab Fund, LLC
New Jersey Association on Correction
New Jersey Citizen Action
New Jersey Community Capital

New Mexico
Southwest Neighborhood Housing Services

New York
Association for Neighborhood and Housing Development (ANHD)
Banana Kelly Community Improvement Association
Beaulac Associates LLC
BOC Capital Corp. CDFI
Business Outreach Center Network
Center for NYC Neighborhoods
Chhaya Community Development Corporation
Community Capital New York
Community Development Venture Capital Alliance
CNY Fair Housing, Inc.
Community Loan Fund of the Capital Region, Inc.
Cypress Hills Local Development Corporation
Fair Finance Watch
Fidelis Federal Credit Union
Fifth Avenue Committee
Genesee Co-op FCU
Greater Jamaica Development Corporation
Habitat for Humanity New York City
Habitat NYC Community Fund
La Fuerza CDC
Neighbors Helping Neighbors
NYS CDFI Coalition
Oswego County Federal Credit Union
PathStone Enterprise Center, Inc.
Renaissance Economic Development Corp.
The Knowledge House
Three Jewels Outreach Center
University Neighborhood Housing Program

Cleveland Neighborhood Progress
Columbus Compact dba Columbus Empowerment Corp.
County Corp
Homes on the Hill, CDC
Ohio CDC Association
The Fair Housing Center for Rights & Research
Working In Neighborhoods

Housing Oregon

Amani Christian Community Development
Beltzhoover Consensus Group
Berks Latino Workforce Development Corporation (BLWDC)
Bloomfield-Garfield Corporation
Chester Community Improvement Project
Fair Housing Rights Center in Southeastern Pennsylvania
Good Bricks Ventures LLC
Hilltop Alliance
Housing Committee
Jave Jive Coffee LLC
Mount Washington Community Development Corporation
Northside Leadership Conference
PHDA Pittsburgh Housing Development Association, Inc
Philadelphia Association of Community Development Corporations
Pittsburgh Community Reinvestment Group
Rising Tide Partners
Southwest CDC
The Enterprise Center
Tube City Renaissance
Wilkinsburg Community Development Corporation

Rhode Island
HousingWorks RI

Our Casas Resident Council INC.
Recon Foundation
Southern Dallas Progress Community Development Corporation

Rocky Mountain Community Reinvestment Corporation

Low Income Housing Institute

Citizen Action of Wisconsin
Disability Justice
Metropolitan Milwaukee Fair Housing Council
Movin’ Out, Inc.
United Community Center
Urban Economic Development Association of Wisconsin (UEDA)
Washington Park Housing Comm
YWCA Southeast Wisconsin
Revitalize Milwaukee

[1]“Although commenters disagreed with the approach outlined in the proposal, the agency ultimately agreed with the minority of commenters who expressed support for the proposed framework. OCC Final Rule, p. 18 or p. 34738. See also, Statement by FDIC Chairman Jelena McWilliams on the CRA Joint Proposed Rulemaking, May 20, 2020.

Print Friendly, PDF & Email

Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

Complete the form to download the full report: