ABA, trade groups seek extension of CIP comment period

In a letter last week, ABA and five financial industry trade groups asked the Interagency Community Investment Committee to extend the comment period for a review of the effectiveness of federal community investment programs by at least 45 days. The groups said the Dec. 5 deadline for comments overlaps with four other community development-related comment deadlines in late November and early December.

“Our members will find it difficult to give all of these comment requests the time and thought that they deserve,” the groups said. They added that an extension “would provide the time necessary for banks, credit unions and other stakeholders to gather information and submit detailed and substantive comments that would help to enhance the coordination of federal community investment programs, maximize the impact of those programs and facilitate greater private sector investment and support.”