TreasureCRA

Over 100 groups call on Federal Reserve to Strengthen CRA

(Download) Docket Number R-1723 and RIN Number 7100-AF94 To Whom it May Concern: The Federal Reserve Board (Fed) must strengthen the rigor of CRA exams to promote recovery from the COVID-19 pandemic. The Fed has described approaches in its Advance Notice of Proposed Rulemaking (ANPR) on CRA that will make CRA exams more objective and …

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Civil Rights, Fair Lending And Consumer Rights Organizations Urge A More Race-Conscious CRA

(Download) February 16, 2021 Ann E. Misback, Secretary Board of Governors of the Federal Reserve System 20th Street and Constitution Ave. NW Washington, DC 20551 RE:  Docket Number R-1723 and RIN Number 7100-AF94 Dear Ms. Misback: In its October 2020 Advance Notice of Proposed Rulemaking (ANPR), the Federal Reserve Board (FRB) invited public comment on …

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RULING: Federal Court Rejects Trump Admin’s Effort to Evade Accountability for Unlawfully Gutting Anti-Redlining Protections

“The harm caused by the Trump Administration’s unlawful evisceration of anti-redlining rules is real and urgent. We are pleased the court rejected the Trump Administration’s shameful attempt to evade accountability for gutting a crucial anti-redlining law. We will continue to press forward in our case to protect marginalized communities and return the protections of the Community Reinvestment Act from the Trump Administration’s continued unlawful grip.”

Flawed FDIC Industrial Loan Charter final rule will undermine CRA, allow lenders to evade state consumer protections

This week, the Federal Deposit Insurance Corporation (FDIC) announced a final rule on industrial banks and industrial loan companies (ILCs), allowing nonbank parent companies to apply for and receive ILC charters, enabling these lenders to make loans across the country with narrow and insufficient community reinvestment obligations.

NCRC statement on OCC’s Proposed CRA Thresholds

Yesterday, the Office of the Comptroller of the Currency (OCC) released a proposed rule for establishing the Community Reinvestment Act (CRA) evaluation measure thresholds, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the agency’s 2020 final rule.

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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OCC announces final rule to amend licensing procedures

Monday, the Office of the Comptroller of Currency (OCC) published a final rule amending its licensing and merger procedures that will make it more difficult for community groups to comment on bank merger applications.  Jesse Van Tol, CEO of the National Community Reinvestment Coalition, made the following statement: “It appears the OCC is doubling down …

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NCRC disappointed by Senate vote against CRA resolution

Today, the Senate failed to pass H.R. Res 90, which would have overturned new rules on the Community Reinvestment Act (CRA) finalized by the Office of the Comptroller of the Currency (OCC) in May. On a party line vote, Senate Democrats voted in support of the resolution that would nullify the OCC’s weakening of CRA rules, while Senate Republicans voted to keep them in place.