The regulators released proposed changes to their documents that implement CRA (called Interagency Questions and Answers).
We have until May 17 to comment on these proposed changes and let regulators know that they don’t go far enough, so please act today!
Your comments matter. Regulators will be hearing from legions of bank representatives, and we need to make sure that they hear from advocates as well. Here is a sample comment letter that we encourage you to personalize and send to regulators:
https://woodstockinst.org/document/130515_cra_qa_signon.docx
The letter includes instructions for submitting the letter to regulators. The letters must be separately sent in to the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency. Alternatively, you can send us your letter on your letterhead to kbuitrago@woodstockinst.org and we can submit the letter to regulators for you.
I’m happy to answer any questions at kbuitrago@woodstockinst.org or 312-368-0310.