The FDIC released proposed rules for an interagency Community Reinvestment Act reform process today. The long-awaited proposal represents the most recent of many stalled efforts to update this anti-redlining law.
Woodstock Institute signed on to Americans for Financial Reform’s comment letter to the OCC, FDIC, and Federal Reserve Board of Governors regarding their Notice of Proposed Rulemaking on the Community Reinvestment Act. The letter emphasizes the importance of CRA’s...
CRA reform efforts must address the fact that federal regulators have rated 95% of banks Satisfactory or better even though data show fewer regulated lenders meeting the law's goals.