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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.
- November 8, 2023I. EXECUTIVE SUMMARY The Final Rule updates the evaluation framework for banks, with Small Banks defined as those with less than $600 million in assets, Intermediate Banks as those with $600 million to under $2 billion in assets, and Large Banks as those with $2 billion or more in assets. Large Banks are evaluated under the Retail Lending Test, Retail Services and Products Test, Community...
- November 8, 2023On October 24, 2023, the OCC, FDIC, and FRB promulgated a finalized CRA modernization rule (the “Final Rule”). In response to a request by the Consumer Bankers Association, the following has been prepared by outside counsel Alston & Bird LLP to provide CBA members with a high-level summary of the Final Rule. Click here for the entire summary
- October 24, 2023Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement after the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) released a joint final rule to amend the Community Reinvestment Act (CRA) regulatory framework. “America’s leading banks...
- September 14, 2023 - 2:00PMPastMay 4, 2023 - 2:00PMPastDecember 1, 2022 - 2:00PMPastOctober 25, 2022Consumer Bankers Association (CBA) President & CEO Lindsey Johnson today shared the following statement after the Federal Deposit Insurance Corp. (FDIC) released a new report that found the number of Americans without a bank account in 2021 fell to 4.5%, the lowest national unbanked rate since the FDIC survey began in 2009. "Today's report is welcomed news and a testament to the unwavering...August 5, 2022To 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 (“Board”), the Office of the Comptroller of the Currency (“OCC”), and the Federal Deposit Insurance Corporation (“FDIC”) (collectively, the “Agencies”) on behalf of its members in response to the Joint Notice of Proposed Rulemaking (“NPR...August 5, 2022The Consumer Bankers Association, in a comprehensive comment letter submitted today to the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) outlined recommendations to strengthen the Community Reinvestment Act (CRA). The letter follows a Notice of Proposed Rulemaking (NPR) issued in May by the agencies seeking to modernize...August 4, 2022The Consumer Bankers Association this Friday will submit recommendations for modernizing the Community Reinvestment Act (CRA), a law enacted in 1977 to ensure banks continued serving the financial needs of their communities. The submission follows a Notice of Proposed Rulemaking (NPR) issued in May by the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the...