Browsing: Community Reinvestment Act

Community Banking

As the federal banking agencies work together on plans to revise the Community Reinvestment Act regulations and supervisory framework, Federal Reserve Governor Lael Brainard articulated several “outcomes that we will work toward” that align closely with ABA’s advocacy on CRA reform.

Compliance

As bank regulators work toward modernizing the Community Reinvestment Act — with an advance notice of proposed rulemaking expected from regulatory agencies in the days ahead — the Treasury Department today issued a formal memorandum to the agencies highlighting several recommendations for updating and improving administration of the 40-year-old law.

Compliance

The Government Accountability Office last week released a report outlining recommendations to further incentivize financial institutions to provide banking services and small-dollar consumer loans in low- to moderate-income communities, including extending CRA to credit unions.

Compliance

As part of ABA’s long-term engagement with the Treasury Department and financial regulators on the Community Reinvestment Act, the association today sent a white paper to Treasury with several recommendations for modernizing the regulatory approach to CRA.

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