Comment Letter: CRA Regulaltions




The Greenlining Institute submitted comments to the OCC, FDIC and Federal Reserve in opposition to the rescission of the 2023 Final CRA rule. Rescinding the 2023 Community Reinvestment Act (CRA) Final Rule will undermine the goals of the CRA and reduce its effectiveness in a new era of financial services, which includes online banking and the lasting impacts of historic and modern redlining.
Greenlining’s comments highlight the continued importance of the CRA for LMI communities, the need for CRA modernization, and the critical areas the 2023 CRA Final Rule sought to address and that returning to the 1995 rules will rollback, including: assessment areas for retail lending, improvements around community development investments, community participation and clarity around Special Purpose Credit Programs.
Read the full comment letter here.
