CRA

CBA is an acknowledged industry leader in the areas of Community Reinvestment, affordable lending, and community and economic development. As an association, through the Community Reinvestment Committee, CBA has significant influence in the development of revisions to CRA and amendments to the CRA Q&A, which interprets the regulations. One of CBA’s priorities is to encourage the agencies to maintain CRA as a sustainable business of banking, reflecting the reality of community development.
  • May 4, 2018
    D.C. MEMORIAL DAY SHOT CLOCK What’s on the D.C. Docket ahead of Memorial Day? – Here is your cheat sheet to guide you through the month: Monday RFI Deadline –The BCFP RFI process continues with comments on administrative adjudications (May 7), enforcement processes (May 14), supervision processes (May 21) and external engagements (May 28) due this month. CBA will be submitting comment on these...
  • April 6, 2018
    CFPB UPDATE Acting CFPB Director Mulvaney Seeks Changes to Agency – In the CFPB’s semi-annual report released on Monday, Acting CFPB Director Mick Mulvaney called on Congress to establish “meaningful accountability” at the CFPB by enacting four key changes: Fund the Bureau through Congressional appropriations. [CBA Note: Currently, under Dodd-Frank, the CFPB receives its funding directly from the...
  • April 3, 2018
    The Trump administration kicked off plans to revamp lending rules in lower-income communities with a proposal that would make it easier for banks to comply with a decades-old law that has long confounded the industry. The Treasury Department, in a memo released Tuesday, said the 1977 Community Reinvestment Act hasn’t kept pace with the evolving banking sector. The law, which was passed to stop “...
  • April 3, 2018
    WASHINGTON — Bank regulators are gearing up to modernize their policy on Community Reinvestment Act enforcement, but the CRA reform effort appeared to benefit from a jump-start Tuesday thanks to the Treasury Department. Industry representatives, analysts and consumer advocates all praised the Treasury report recommending a slew of CRA reforms that could serve as a jumping off point for regulators...
  • April 3, 2018
    WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Department of Treasury issued its memorandum and recommended changes on the Community Reinvestment Act: “We welcome the Department of Treasury’s recommendations for modernizing a decades old law, last revised when mobile phones and digital technologies were in their infancy. The...
  • March 14, 2018
    Orlando, Florida (March 14, 2017) – The Consumer Bankers Association (CBA) today presented the eighth annual Joe Belew Award to Discover Bank for its Bank on Wheels program and PNC Bank for its Community Connections Center. This year, the award honors CBA member banks with the most innovative and impactful program serving underbanked and unbanked consumers. The winners were selected by CBA’s...
  • February 22, 2018
    On Thursday, February 22, 2018, CBA met with Treasury staff to discuss their upcoming report on nonbank financial companies. This report is part of the Treasury’s effort to implement the President’s Executive Order on Core Principles for Regulating the U.S. Financial System. Treasury stated the report would cover consumer lending, servicing, payment and settlements, wealth management, and data...
  • February 16, 2018
    Hot Out of the CFPB CFPB Embraces New Strategic Plan – Laying out the CFPB’s vision through fiscal year 2022, the Bureau, under Acting CFPB Director Mick Mulvaney, issued its new strategic plan. Here are the Bureau’s three long-term goals: Ensure that all consumers have access to markets for consumer financial products and services; Implement and enforce the law consistently to ensure that...
  • December 28, 2017
    On Tuesday, November 28, 2017, the OCC released its schedule of CRA evaluations for the first and second quarters of 2018. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA, and suggests that comments be submitted prior to the month in which the evaluation is scheduled. The OCC will consider all public comments...
  • December 8, 2017
    With over two-thirds of the buyer's journey done via online and mobile, banks need new strategies to reach millennials. Learn the five ways to engage with millennials through online financial education and how to reach them even when most of their journey is online. Download our guide , Reaching Millennial Consumers: Using Financial Education as Content Marketing to jumpstart your 2018 strategy...

Pages