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TreasureCRA

Sign-On Letter asking OCC & FDIC to Suspend CRA Rulemaking during the COVID-19 Crisis

By / / Testimony & Regulatory Comments / 8 minutes of reading

(Download) March 24, 2019 The Honorable Joseph M. Otting Comptroller of the Currency The Honorable Jelena McWilliams Chairman, Federal Deposit Insurance Corporation Dear Comptroller Otting and Chairman McWilliams: On behalf of the undersigned organizations, the National Community Reinvestment Coalition (NCRC) requests an immediate suspension until the end of the health crisis of the comment period for the proposed changes to […]

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The CRA Evaluation Measures Would Allow Banks to Relax their Retail Lending to LMI Borrowers and Communities

By / / Research / 13 minutes of reading

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) have proposed changes that would dramatically alter the Community Reinvestment Act (CRA) examination of banks. Their proposal would create a metric, called the CRA evaluation measure, that would be the dominant measure for determining a bank’s rating. As long as a

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Proposed Changes to CRA Puts Billions in Lending at Risk Each Year

By / / Research / 2 minutes of reading

Nearly $3 trillion in home and small business loans from banks went to low- and moderate-income (LMI) borrowers and communities over the last decade. Proposed changes to the Community Reinvestment Act (CRA), which requires banks to make loans in all of the communities where they take deposits, including poor ones, could significantly decrease this lending,

Proposed Changes to CRA Puts Billions in Lending at Risk Each Year Read More »

NCRC Research Memo – Impact of Proposed Rule-Making on Major Credit-Card Lending Banks

By / / Research / 5 minutes of reading

NCRC analysis of OCC & FDIC proposal indicates credit card lenders may have reduced incentive to make community development investments. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) recently proposed a rulemaking (NPRM) that would radically change the manner in which retail lending, consumer lending and community development (CD) activities

NCRC Research Memo – Impact of Proposed Rule-Making on Major Credit-Card Lending Banks Read More »

Age-Friendly Banking and the OCC and FDIC’s Proposed Changes to the Community Reinvestment Act

By / / Views / 2 minutes of reading

(Download) 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

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Myths and Facts: A review of Otting testimony on proposed changes to the Community Reinvestment Act

By / / Policy, Testimony & Regulatory Comments / 9 minutes of reading

The Comptroller of the Currency, Joseph M. Otting, submitted testimony in advance of his appearance before the House Financial Services Committee on Jan. 29, 2020. His testimony cited and challenged NCRC’s analysis of a proposal to overhaul rules that enforce the Community Reinvestment Act. This is NCRC’s response to Otting’s testimony.

Myths and Facts: A review of Otting testimony on proposed changes to the Community Reinvestment Act Read More »

NCRC Director of Policy and Government Affairs Testifies in Front of House Financial Services Subcommittee on Consumer Protection and Financial Institutions About Winners and Losers in Proposed CRA Changes

By / / Testimony & Regulatory Comments, Views / 20 minutes of reading

Good afternoon Chairman Meeks, Ranking Member Luetkemeyer and the Members of the House Subcommittee on Consumer Protection and Financial Institutions. Thank you for the opportunity to testify and for convening this important hearing on the Community Reinvestment Act (CRA) to discuss the winners and the losers in the proposed rulemaking formally published last week by

NCRC Director of Policy and Government Affairs Testifies in Front of House Financial Services Subcommittee on Consumer Protection and Financial Institutions About Winners and Losers in Proposed CRA Changes Read More »

Adding Underserved Census Tracts as Criterion on CRA exams

By / / Research / 15 minutes of reading

(Download) Introduction The Community Reinvestment Act (CRA) is an income-based law. Accordingly, the regulations and exams focus on evaluating bank lending, investing and services to low- and moderate-income (LMI) borrowers and tracts. However, one of the major motivations prompting the passage of CRA in 1977 was reversing redlining and disinvestment from minority as well as

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Comment Period for CRA notice of proposed rulemaking now open

By / / Testimony & Regulatory Comments / 2 minutes of reading

Today is the day, the clock is ticking, and we’ve got to mobilize everyone we know who cares about the economic health, wealth and justice in America’s communities. The government published today and opened up for public comments a plan to radically change and diminish the impact of the Community Reinvestment Act (CRA). Let’s make no

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Initial NCRC Analysis of the FDIC and OCC Notice of Proposed Rulemaking Concerning the Community Reinvestment Act

By / / Testimony & Regulatory Comments / 27 minutes of reading

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

Initial NCRC Analysis of the FDIC and OCC Notice of Proposed Rulemaking Concerning the Community Reinvestment Act Read More »

Summary Fact Sheet on the OCC and FDIC CRA Proposed Rule

By / / Testimony & Regulatory Comments / 5 minutes of reading

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

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