Otting says OCC won't extend CRA comment period

Jan 30, 2020
Comptroller of the Currency Joseph Otting testified before the House Financial Services Committee on the OCC-FDIC proposal to reform the Community Reinvestment Act.

Committee members cited a joint letter signed by ICBA requesting an extension of the comment period from 60 to 120 days, which Otting said the agency would not grant.

Participants also debated provisions in the CRA proposal related to credits for loan and dollar amounts, mortgage-backed securities, and thresholds for small-business and agricultural loans.