Community Reinvestment Act
The OCC issued Advanced Notice of Proposed Rulemaking (ANPR) that would weaken the CRA’s original intent to meet the banking and credit needs of low and moderate income people and communities.
HDC and partners are asking the OCC to withdraw the ANPR and to work to amplify the impact of the CRA rather than lowering the bar for banks for meeting the needs of the communities the CRA was intended to serve.
What Did HDC Do: Partnered with NACEDA, PHA members, and others to send comment letters due by November 19th. HDC Comment Letter.
What’s Next? We are waiting for the OCC to outline the rest of the process. We will need to mobilize once there is a determination.