CBA Launches Community Reinvestment Act Resource Microsite

November 19, 2018
Allison Heimberg

 

CBA Launches Community Reinvestment Act Resource Microsite

Site contains CRA-101 primer, CBA priorities, testimonials 

 

WASHINGTON – The Consumer Bankers Association today launched a Community Reinvestment Act resource microsite. The site includes CRA-focused comment letters, videos, op-eds, statements, relevant articles and a list of CBA’s Community Reinvestment Act member banks. CBA’s comment letter to the Office of the Comptroller of the Currency on ways to modernize CRA will be posted on the site when submitted later today.

 

The site is available here or by visiting consumerbankers.com/CRA.

 

“Banks are committed to CRA and modernizing the law will ensure the more than $100 billion worth of community investments banks make each year provide the greatest benefit to those in need,” said CBA President and CEO Richard Hunt. “As you will see from the page and the video testimonials, CRA compliance is a pivotal part of bank operations – not just because of regulatory requirements, but because of the positive benefits it brings to communities across the country.”

 

The page contains several videos, including an animated “CRA 101” video providing a brief history of CRA and explains CBA’s core priorities in modernizing the law. Additional videos feature members of CBA’s Community Reinvestment Committee discussing the important role CRA plays at their bank and how modernizing CRA would help banks better serve communities. CRA practitioners featured in the videos include: Committee Chair Sue Whitson, Vice President - CRA Governance Manager with BMO Harris Bank; Joy Hoffmann, Senior Vice President, Community Reinvestment Act Officer with Bank of the West; Charles Mapson, Executive Director, Bank Compliance with USAA Federal Savings Bank; and, Doug Schaeffer, Executive Vice President, CRA Executive Director with Woodforest National Bank.

 

Videos are available on the site as well as by clicking on the images below:

 

        

 

CRA-focused op-eds from Hunt and CBA Executive Vice President and General Counsel Steve Zeisel are also available on the site.

 

Additional resources will be added to the page as the CRA modernization process moves forward.

 

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 About the Consumer Bankers Association
The Consumer Bankers Association represents America’s leading retail banks. We promote policies to create a stronger industry and economy. Established in 1919, CBA’s corporate member institutions account for 1.7 million jobs in America, extend roughly $4 trillion in consumer loans and provide $275 billion in small business loans annually. Follow us on Twitter @consumerbankers.