With proposed changes to Community Reinvestment Act rules expected in late summer or early fall, we must remind federal regulatory agencies not to diminish the importance of home mortgage lending in CRA exams.
A coalition of housing, consumer protection and community development organizations yesterday called on the Trump administration to not undermine policies that help low- and moderate-income (LMI) people buy homes, and avoid changes that would make home-buying harder for millions.
Dear Chairman Frank:
First, we would like to congratulate you and thank you for your leadership in enacting financial regulatory reform that will go a long way towards leveling the playing field for consumers, increasing the safety and soundness of our financial system and helping to curb the worst abuses that caused the economic collapse. We want to thank you in particular for including enhancements to the Home Mortgage Disclosure Act and small business lending data in financial reform.