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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.
- August 3, 2021 - 2:00PMPastJuly 20, 2021On Tuesday, July 21, 2021, CBA President and CEO Richard Hunt issued the following statement after the Office of the Comptroller of the Currency (OCC) announced its decision to move forward with a repeal of the June 2020 Community Reinvestment Act (CRA) rule and continue working with the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on a joint rulemaking process to...May 18, 2021CBA Statement on OCC Decision to Reconsider CRA Rule Hunt: “With a change in OCC leadership, and because of the impending deadlines, delaying the newly finalized rule is critical” WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today issued the following statement after the Office of the Comptroller of the Currency (OCC) announced it will reconsider the June 2020 final...May 5, 2021CBA, Financial Trades Urge OCC to Formally Delay or Withdraw CRA Rule WASHINGTON – Consumer Bankers Association, along with nine other financial services trades, this week wrote Office of the Comptroller of the Currency (OCC) Acting Comptroller Blake Paulson urging the agency to formally withdraw its June 2020 Community Reinvestment Act (CRA) Rule or delay its January 2023 compliance date by at...February 16, 2021To Whom It May Concern: The Consumer Bankers Association (CBA) is pleased to submit these comments to the Board of Governors of the Federal Reserve System (Federal Reserve) in response to the Advance Notice of Proposed Rulemaking, “Community Reinvestment Act Regulations” (ANPR). CBA and our members support the goals of the Community Reinvestment Act (CRA) and believe banks have an affirmative...February 4, 2021To Whom It May Concern, The undersigned trade associations appreciate the opportunity to comment on the Office of the Comptroller of the Currency (OCC’s) Notice of Proposed Rulemaking on Community Reinvestment Act Evaluation Benchmarks (NPR). This rulemaking would establish a framework for setting the performance metrics for purposes of the agency’s June 2020 CRA Rule. In conjunction with the NPR...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...