ABA Urges Withdrawal of CRA Information Collection Survey

The American Bankers Association and a coalition of trade associations yesterday called for the withdrawal of the OCC’s CRA information collection survey. In a letter to the agency, the groups requested that the survey be withdrawn due to “significant procedural, operational, and technological changes in order to access and report the required data.”

The information requested is data that banks do not currently have and in some cases will need to construct, the groups wrote, adding that “foundationally, any new CRA benchmarks or performance measures should be based on data that is collected on a go-forward basis rather than requiring banks to engage in the labor-intensive exercise of reconstructing information.”