ABA, joined by the Bank Policy Institute, Consumer Bankers Association and the Independent Community Bankers of America, today called on the federal banking agencies to pause any changes in certain Call Report data until the ongoing Community Reinvestment Act regulatory revamp and Dodd-Frank Act Section 1071 rulemaking are completed.
The agencies in October sought comment on modifying the Call Report data collections on small business and small farm lending, as recommended in a Government Accountability Office report. While the trade groups appreciated the importance of updating these data, they said that the CRA modernization effort and the implementation of Section 1071 are expected to make significant changes to the reporting and tracking of small business and farm loans.
“Any revisions to the Call Report requirements pertaining to small business lending should be coordinated with these rulemakings,” the groups said. “Inconsistent definitions would add unnecessary complexity to the bank regulatory framework, and successive changes to [the Call Report]would increase regulatory burden without serving any business purpose.”