American Bankers Association filed 2 comments on this docket between Nov 15, 2018 and Apr 16, 2020. 699 other organizations filed here. The comment window closed 2302d ago.
Please find attached the American Bankers Association and the undersigned state trade associations' comment letter on the joint Notice of Proposed Rulemaking issued by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation that would modernize the regulations that implement the Community Reinvestment Act.
Please find attached ABA's comment letter on Reforming the Community Reinvestment Act Regulatory Framework, Docket ID OCC20180008.
The Office of the Comptroller of the Currency (OCC or agency) invites comments on this advance notice of proposed rulemaking (ANPR) to solicit ideas for building a new framework to transform or modernize the regulations that implement the Community Reinvestment Act of 1977 (CRA). A new CRA regulatory framework would help regulated financial institutions more effectively serve the convenience and needs of their communities by encouraging more lending, investment, and activity where it is needed most; evaluating CRA activities more consistently; and providing greater clarity regarding CRA-qualifying activities. A transformed or modernized framework also would facilitate more timely evaluations of bank CRA performance, offer greater transparency regarding ratings, promote a consistent interpretation of the CRA, and encourage increased community and economic development in low- and moderate-income (LMI) areas. Revisions of this nature are consistent with the original intent of the CRA: To help meet the credit needs of the communities that banks serve. In addition, these types of revisions would align with the transformation of the banking industry and reduce the complexity, ambiguity, and burden associated with the regulations.
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