Mortgage Bankers Association
OCCRulemakingOCC-2018-0008

Community Reinvestment Act Regulations

RIN
Last modified
Dec 9, 2020
Comment window
closed 2302d ago
Mortgage Bankers Association filings
2

Activity

Mortgage Bankers Association filed 2 comments on this docket between Nov 17, 2018 and Apr 9, 2020. 699 other organizations filed here. The comment window closed 2302d ago.

What Mortgage Bankers Association filed (2)

Apr 9, 2020· Mortgage Bankers Association (MBA)· OCC-2018-0008-2773

The Mortgage Bankers Association (MBA)1 appreciates the opportunity to submit comments on the joint notice of proposed rulemaking (NPR)2 issued by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) (jointly, the Agencies) to modernize and improve upon the regulatory framework implementing the Community Reinvestment Act (CRA). Our comments focus principally on the impacts of the proposal on single-family and commercial/multifamily mortgages, but we also share our members' views on certain other aspects of the proposal as well.

Abstract

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.

View on regulations.gov →
Community Reinvestment Act Regulations (OCC) — Mortgage Bankers Association | OpenPolis