Washington, D.C (Aug. 28, 2018)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Office of the Comptroller of the Currency’s advance notice of proposed rulemaking on reforming the Community Reinvestment Act.
“As the Office of the Comptroller of the Currency looks for ways to modernize the Community Reinvestment Act to keep pace with our changing banking environment, ICBA and the nation’s community bankers continue to advocate improvements to CRA consistency and transparency.
“ICBA urges regulators to be more transparent during the examination process, ensure examination and supervision are consistent across cycles and among agencies, and allow assessment areas to be identified and delineated by community banks rather than the agencies so that lenders can plan accordingly.
“Today’s advance notice of proposed rulemaking asks thoughtful questions on how to reform CRA. ICBA looks forward to reviewing them with our member community banks and working with the OCC to make substantive regulatory improvements. Meanwhile, ICBA encourages the Federal Deposit Insurance Corp. and Federal Reserve to collaborate with the OCC on this effort.”
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.