Review of Section 1071 Data Points
A summary and detailed review of data points in the CFPB’s final Section 1071 rule.
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CRA reform
Initial Analysis Of Final Section 1071 Small Business Lending Rule
Initial Analysis Of Final Section 1071 Small Business Lending Rule April 2023 Download Report Kevin Hill, Senior Policy Advisor KEY TAKEAWAYS: Discrimination in small business lending will be easier to identify and root out. This is an important new rule that applies to the full spectrum of small business lending, removing fog from a key area
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How And Why CRA Reform Proposals Must Improve Access To Credit And Capital For Small Businesses
How And Why CRA Reform Proposals Must Improve Access To Credit And Capital For Small Businesses November 2022 Download Report Josh Silver, Senior Fellow In late spring of 2022, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) proposed the most far-reaching changes to
NCRC Files Final Comment Letter On Proposed Overhaul Of Community Reinvestment Act Regulations
“Significant changes will be required if the final rule is to deliver real progress in addressing the legacy of redlining in America.”
Video: A conversation with key financial regulators on proposed Community Reinvestment Act (CRA) reform
Recorded August 2, 2022 Listen to our conversation with key financial regulators on proposed Community Reinvestment Act (CRA) reform. We dig into the potential areas for reform, and how these impact your communities. For more information and sample comment letters, visit our #TreasureCRA page. Speakers: Eric Belsky, Director, Division of Consumer and Community Affairs, Board of Governors of
Initial NCRC Analysis of OCC Proposal to Establish Thresholds for its New CRA Measures
The OCC has proposed yet another data collection effort to develop thresholds for its flawed 2020 Community Reinvestment Act final rule. This is another tacit admission by the OCC that all along it has lacked the data and factual basis for developing its flawed revisions to CRA examination performance measures. Instead of creating more consistency
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How to Evaluate Community Development Financing and Services Under CRA
In anticipation of the reform proposals to the Community Reinvestment Act (CRA) expected this week, I am continuing the review of performance measures on CRA exams. The most recent blog looked at performance measures on the lending test. This one will scrutinize performance measures on the investment and service test.
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The Wall Street Journal: Trump team’s rewrite of low-income lending rules falters
“We are already seeing an unusual level of discord among the regulators,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, a fair-lending advocacy group. “I think there is a significant risk that the whole effort will backfire, unless a more careful and consensus-driven approach is taken.”
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With rule changes looming, a coalition of national and local organizations urges bank regulators to modernize the Community Reinvestment Act
A group of 487 civil rights, fair lending, community, and consumer rights organizations today submitted to bank regulators a set of recommendations for strengthening the Community Reinvestment Act (CRA), a law designed to stop discrimination in mortgage and small business lending.
The importance of CRA assessment areas and bank branches
In 1977, Congress enacted the Community Reinvestment Act (CRA) and required federal bank agencies to assess the record of banks in meeting needs for credit and banking services in communities in which banks are chartered. The federal bank agencies responded by creating CRA examinations that assessed banks’ performance in geographical areas containing bank branches and
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Forbes: Mortgage lending to poor under attack and blacks, hispanics priced out of housing markets
A newly revealed suggestion to revamp a basic concept in the Community Reinvestment Act could undermine long-standing attempts to minimize redlining and improve needed investment in minority and low-income communities.
American Banker: The ‘C’ in CRA should still mean something
Many of Treasury’s recommendations for modernizing the Community Reinvestment Act would help financial institutions, not low-income communities.
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American Banker: BankThink Grading Treasury’s CRA reform memo: ‘Incomplete’
Let’s discuss the specifics of what modernization could look like, since the Treasury report chose not to.
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American Banker: CRA’s black box could prove difficult to open
Critics argue that Community Reinvestment Act standards need to be more transparent, but creating more objective measures would require regulators to favor some types of loans over other
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CityLab: How the Fair Housing Act failed black homeowners
Fair-lending enforcement would not happen in earnest until years after the Fair Housing Act, not until the Community Reinvestment Act of 1977 required financial institutions go on record about what they considered their market area. The law intentionally created a conundrum for any institution that was redlining: How could it accept deposits from customers to whom it was unwilling to lend?
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