Tell Congress to protect the Community Reinvestment Act (CRA), a key tool in driving bank capital to Latino communities.
Roughly 814 banks would no longer be evaluated on community development lending under a rule the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) proposed on July 31. Another 417 would lose separate reviews of their community development investments and branch services. The proposed changes to the Community Reinvestment Act (CRA) would also narrow the kinds of grants that earn banks CRA credit, restricting the flexible operating support that keeps staff and programs running at CDFIs and other community lenders.
Roughly 814 banks would no longer be evaluated on community development lending under a rule the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) proposed on July 31. Another 417 would lose separate reviews of their community development investments and branch services. The proposed changes to the Community Reinvestment Act (CRA) would also narrow the kinds of grants that earn banks CRA credit, restricting the flexible operating support that keeps staff and programs running at CDFIs and other community lenders.
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