Community Reinvestment
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 13, 2020The Consumer Bankers Association (CBA) today wrote House Financial Services Consumer Protection and Financial Institutions Subcommittee Chair Greg Meeks (D-N.Y.) and Ranking Member Blaine Luetkemeyer (R-Mo.) to discuss efforts to modernize the Community Reinvestment Act. “CBA believes banks have an affirmative obligation to help meet the credit needs of their communities, including low- and...
January 8, 2020Richard Hunt, president and CEO of the Consumer Bankers Association, said the Fed should formally release its proposal to receive public comment on it. Many of Ms. Brainard’s points and suggestions were already incorporated into the joint OCC and FDIC plan, he added.
January 6, 2020“I find it hard to believe we have people who are opposed to more transparency, more consistency,” said Richard Hunt, president of the Consumer Bankers Association, who said his member banks are still studying the proposal but are pleased with its overall direction.
December 18, 2019Banks and public advocacy groups agree that the Community Reinvestment Act needs to change. But is the latest proposal moving in the right direction?
December 12, 2019CBA Statement on Community Reinvestment Act NPR “Modernizing CRA is a generational opportunity and, if done properly, will enable banks to invest more in communities across the country.” *** “The OCC and FDIC should be commended for tackling this herculean effort and working with banks, community groups and other stakeholders.” *** “CBA hopes the Fed will eventually join the other agencies to...
December 12, 2019An industry lobbying group, the Consumer Bankers Association, called the overhaul a “generational opportunity,” with President Richard Hunt saying in a statement that the OCC and FDIC deserve credit “for tackling this herculean effort and working with banks, community groups and other stakeholders to get it right instead of simply getting it done.”
October 7, 2019The Community Reinvestment Act is more than 40 years old and has only been significantly amended once, in the mid-1990s when cellphones still played the snake game and there was a Blockbuster video on every corner. Technology has changed since then. Consumer needs have changed since then. Banking has changed since then. But the CRA has not and the 1977 law is no longer working. Modernization is...
August 15, 2019CBA Statement on CRA Meeting with OCC Would be preferable for regulatory agencies to be in agreement, this generational opportunity needs to move forward WASHINGTON, D.C. – Consumer Bankers Association President and CEO Richard Hunt issued the following statement after attending a meeting with CBA members and the Office of the Comptroller of Currency to discuss the Community Reinvestment Act: “...Pages
CBA Letter for Record HFSC Subcommittee Hearing on CRA