Administration Filed Log on the Last Day of the CRA Comment Period, Continues to Withhold Key Details and Substance of Communications from the Public. Democracy Forward, Community Development Orgs Call Out OCC’s Hollow Claims to Accountability, File Request for Full Records.
Proposed rule changes to the Community Reinvestment Act (CRA) could encourage the neglect of entire markets by the largest banks, a new study found.
A diverse coalition of community-based organizations called on the OCC and the FDIC to immediately suspend the comment period for the proposed changes to CRA until after the health and financial crisis brought on by the coronavirus global pandemic is over.
National and Community Groups Call on FDIC, OCC to Suspend CRA Rulemaking for COVID-19 Read More »
Today, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint statement providing guidance to financial institutions on how they can receive credit on their Community Reinvestment Act (CRA) activities to low- and moderate-income people and communities affected by the coronavirus.
Nearly all banks that earned passing marks under current rules would be able to reduce their mortgage lending to low- and moderate-income (LMI) borrowers and communities under new rules proposed for the Community Reinvestment Act (CRA), a new study found.
“We applaud the Federal Reserve’s release of CRA data. They are practicing transparency and we look forward to fully analyzing the data. We’re also curious what it may reveal or imply about the OCC and FDIC proposal. The OCC and FDIC have failed to release data they referenced in their rule proposal,” said Jesse Van Tol, CEO of NCRC.
NCRC Applauds Federal Reserve’s Release of CRA Data Read More »
Here are some of the most absurd examples of what would qualify for Community Reinvestment Act (CRA) credit under rule changes proposed by regulators.
Today, the National Community Reinvestment Coalition (NCRC) submitted a Freedom of Information Act (FOIA) request to the Office of the Comptroller of the Currency (OCC) for records related to the agency’s plan to revise Community Reinvestment Act (CRA) rules.
NCRC Submits FOIA Request for Missing Data in CRA Proposed Rule Read More »
In December 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPRM) that would considerably weaken the regulations implementing the Community Reinvestment Act (CRA), a law designed to combat redlining by requiring banks to affirmatively and continually meet community needs for
In the words of dissenting Federal Deposit Insurance Corporation (FDIC) Board member Martin Gruenberg, the FDIC and the Office of the Comptroller of the Currency’s (OCC) Notice of Proposed Rulemaking (NPRM) on the Community Reinvestment Act (CRA) “is a deeply misconceived proposal that would fundamentally undermine and weaken the Community Reinvestment Act.” The agencies would
Summary Fact Sheet on the OCC and FDIC CRA Proposed Rule Read More »
10 national civil rights and economic justice leaders, including NCRC, issue a strong statement against the government’s plan to weaken the Community Reinvestment Act
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.
How to Evaluate Community Development Financing and Services Under CRA Read More »
As we get closer to proposed changes to the Community Reinvestment Act (CRA), a sober assessment of the effectiveness of various parts of CRA exams will help us react to the proposed changes.
Do CRA Exams Measure Retail Lending Well? Read More »
Boldly called “The Future of the Community Reinvestment Act,” the publication has a series of articles examining retail lending, community development financing and branching of banks.
Though the debate regarding the future of the CRA is with the federal regulators, we should not, and cannot, forget the role of our local communities and local governments, as they have the most to lose from potential changes to this vital law.
Local Resolutions: One Tool in Supporting Appropriate CRA Reform Read More »
