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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.
- January 11, 2021Re: Request to Rescind CRA Benchmarking Data Collection The undersigned trade associations appreciate the Office of the Comptroller of the Currency’s (OCC) leadership in modernizing the regulations that implement the Community Reinvestment Act (CRA). Updating the CRA regulations is a priority for our respective associations—one that has become even more important as the COVID-19 pandemic has...
- October 19, 2020On Monday, October 19, 2020, the Senate rejected a Motion to Proceed on the Congressional Review Act Resolution of the OCC’s final Community Reinvestment Rule by a vote of 48 to 43. With the failure of the Motion to Proceed, the framework proposed by former Comptroller Otting overcomes its first hurdle on the way towards implementation. In June, House Democrats brought the Resolution challenging...October 1, 2020“There's a significant amount of overlap between what the Fed has proposed and what the OCC has finalized,” Brooks said in a pre-recorded interview shared by the Consumer Bankers Association during a virtual event Thursday afternoon.September 21, 2020CBA Statement on Federal Reserve CRA Vote WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after the Federal Reserve Board of Governors released an advance notice of proposed rulemaking for its modernization of the Community Reinvestment Act: “Banks currently invest nearly $500 billion each year into low- and moderate-income neighborhoods...September 9, 2020Dear Ms. Gardineer and Mr. Nguyen: Thank you for meeting with the Bank Policy Institute and the Consumer Bankers Association (together, the “Associations”) in early Summer to discuss the Office of the Comptroller of the Currency’s May 2020 final rule revising the Community Reinvestment Act regulations. The Associations write to provide the OCC with a set of questions on the final rule on which we...August 10, 2020CBA Writes Prudential Regulators on CRA PPP loans should qualify for CRA credit; Consistent qualifying activity list vital to CRA compliance WASHINGTON, D.C. – The Consumer Bankers Association today sent two letters to prudential regulators focused on Community Reinvestment Act policy. The first, sent to FDIC Chairman Jelena McWilliams, Federal Reserve Board of Governors Chair Jerome Powell and...May 20, 2020CBA on OCC’s Community Reinvestment Rule Rule adds transparency and objectivity; Banks need maximum time for implementation WASHINGTON – The Consumer Bankers Association today released the following statement after the Office of the Comptroller of the Currency issued a final rule on modernizing the Community Reinvestment Act: “The OCC and Comptroller Otting should be commended for attempting to...April 9, 2020CBA Comment Letter on OCC-FDIC Community Reinvestment Act NPR Applauds efforts to increase consistency and transparency, proposes alternative approach in some areas WASHINGTON – The Consumer Bankers Association yesterday submitted comments to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation on the agencies’ joint Community Reinvestment Act notice of proposed...April 9, 2020EVERFI’s National Financial Bee is a nationwide financial literacy initiative for 7th-10th grade students that will run from April 20-24. Sponsored by financial institutions for the students in their communities, the Bee is made up of a 5-part course and an essay contest, where students compete to win up to $10,000 in scholarship prizes. This initiative enables financial institutions to connect...April 8, 2020To Whom It May Concern: The Consumer Bankers Association (CBA)  is pleased to submit these comments to the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) (together, the “Issuing Agencies”) on behalf of its members in response to the Notice of Proposed Rulemaking (NPR) entitled “Community Reinvestment Act Regulations.”  Buckley LLP  helped...