Banks Overwhelmed by CRA Final Rules
As Massachusetts banks wait to see how a lawsuit by national banking trade groups over changes to federal Community Reinvestment Act rules will turn out, they’re facing a large number of additional unknowns.
New CRA Rules Could Make Banks More Careful with Growth
After the release of the new Community Reinvestment Act rules last month, community groups say banks must be careful in expanding too fast, and instead should focus on improving lending and investments in low- to moderate-income communities in areas they already serve.
Proposed CRA Changes Include Significant Flaw
One element of proposed Community Reinvestment Act regulation changes will be earth-quaking and will have profound consequences for many banks’ CRA performance.
CRA Reform Should Include Race, Rewards for Best Banks
Proposed updates to this foundational civil rights law miss two key changes that would dramatically improve its effectiveness.
CRA Reform Could Bring Bigger Assessment Areas
The latest attempt to renovate the Community Reinvestment Act could pose serious challenges for larger banks that have used online lending to find business over a wide area.
Tug-of-War Brews Over CRA Reforms
Banking trade groups say the latest CRA reform will put smaller lenders at a disadvantage. And advocacy groups think it doesn’t go far enough to help correct redlining’s racial legacy.
All Three Bank Regulators Pledge to Update CRA for a New Era
The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches.
Three Cheers for the OCC
The Biden administration is entirely correct to scrap its predecessor’s controversial revamp of anti-redlining regulations.
OCC Drops Trump-Era CRA Reform
The yearslong effort to update the Community Reinvestment Act will continue, this time with the three federal banking regulators working together, a move supported by both banks and community organizations.
Fed Offers its Own CRA Reform Package
Another attempt to overhaul the Community Reinvestment Act moved forward yesterday as the Federal Reserve released its proposal to modernize the legislation that encourages financial institutions to meet community credit needs.
OCC’s ‘Fix’ Weakens Anti-Redlining Law
Community groups like the National Community Reinvestment Coalition, the California Reinvestment Coalition and legal oversight group Democracy Forward say the Trump administration has been keen on gutting the CRA.
Warren Wades Into CRA Reform Fight
Massachusetts’ senior senator wants the interim head of the Office of the Comptroller of the Currency to rescind his predecessor’s efforts to update the agency’s Community Reinvestment Act regulations.
OCC CRA Changes Could Complicate Housing Finance
As banks have sought opportunities to satisfy Community Reinvestment Act requirements by lending in low- and moderate-income communities, affordable housing organizations have found willing partners for their projects.
OCC Releases Final CRA Rule Without FDIC Support
Five months after issuing a proposal to update the Community Reinvestment Act, the Office of the Comptroller of the Currency today released its final rule.
Trump Moves to ‘Gut’ Fair Housing
The Trump administration’s moves to change – some say “gut” – the nation’s fair housing policies may have awakened a sleeping giant.
CRA Comment Period Extended Following Outcry
The FDIC and Office of the Comptroller of the Currency have changed course and extended the public comment period for proposed changes to the Community Reinvestment Act.
