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.
  • 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...
  • November 29, 2017
    On Wednesday, November 29, 2017, the Fed, OCC, and FDIC issued a final rule revising regulations implementing the Community Reinvestment Act (CRA). The final rule amended the definitions of “home mortgage loan” and “consumer loan” to align with changes to CFPB Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The final rule also amended CRA public file content requirements...
  • November 20, 2017
    On Monday, November 20, 2017, the Federal Reserve, FDIC and OCC announced amendments to their respective Community Reinvestment Act (CRA) regulations. The changes conform to conforming to amendments made by the CFPB to Regulation C, implementing the Home Mortgage Disclosure Act (HMDA). In addition, the final rule contains technical corrections and removes obsolete references to the Neighborhood...
  • November 8, 2017
    On Wednesday, November 8, 2017, the OCC issued a bulletin on guidance to provide transparency regarding its framework for evaluating certain types of licensing applications when an applicant bank has an overall Community Reinvestment Act (CRA) rating of “Needs to Improve” or “Substantial Noncompliance” (together, less than satisfactory CRA performance rating) or a less than satisfactory CRA...
  • November 3, 2017
    On Friday, November 03, 2017, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings the FDIC assigned to institutions in August 2017. A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be...
  • November 1, 2017
    On Wednesday, November 1, 2017, the OCC released a list of Community Reinvestment Act performance evaluations made public during the period of October 1, 2017 through October 31, 2017. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve,...
  • October 20, 2017
    Washington, D.C. – The Consumer Bankers Association (CBA) today submitted comments to the Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation on proposed rulemaking to amend the Community Reinvestment Act (CRA). The proposal would require financial institutions to combine home equity lending data with home mortgage lending data when reporting...
  • October 20, 2017
    ​Cordray, Noreika Arbitration Spat Heats Up CFPB Director Richard Cordray and Acting OCC Comptroller Keith Noreika continue to publicly air their disagreements over the merits of the CFPB’s arbitration rule. Recently, both agency heads published dueling op-eds in The Hill challenging each other’s views of the rule. This week, the debate continued to escalate as both challenged the validity of the...

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