Last week, Greenlining, along with other community advocates, testified before OCC Comptroller Curry, FDIC Chairman Gruenberg, and other regulatory agency representatives to discuss outdated and burdensome financial regulations. Over the next year, financial regulators will hold hearings across the country to hear from industry, advocates and the public on this matter.
Attached please find Sasha Werblin’s, Economic Equity Director, formal comments expressed during the consumer advocate panel. Key recommendations focused on modernizing the Community Reinvestment Act to ensure that it reflects the the 21st Century financial services sector.
The hearing took place at the San Francisco Federal Reserve Bank in Los Angeles on December 2, 2014.