ICBA: CRA Reform Should Be Interagency Effort

Sep 27, 2019

ICBA called on Comptroller of the Currency Joseph Otting to work with other prudential regulators to issue a joint notice of proposed rulemaking on Community Reinvestment Act reform.

In a letter to Otting, ICBA said working jointly on CRA reform would increase regulatory certainty and industry-wide consistency

ICBA also advocated:

  • a CRA credit multiplier for banks offering loan and investment participations to community banks,
  • providing CRA credit to banks for the duration of a loan rather than merely in the year a loan is originated, and
  • exemptions from full-scope examinations for minority- and women-owned financial institutions.
Read ICBA Letter