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The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.May 7
!["Further delay [of CRA reform] will prevent these additional resources from reaching those who need them most in this time of national emergency," said Comptroller of the Currency Joseph Otting in April.](data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==)
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Banking regulators restored the scandal-plagued bank's score three years after assigning it the lowest possible rating under the Community Reinvestment Act.May 4
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As the nation struggles with the coronavirus, now is not the time to make major revisions to the Community Reinvestment Act.April 20
President and CEONeighborWorks America
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Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.April 8
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Though she stopped short of mentioning the FDIC and OCC by name, Fed Gov. Lael Brainard objected to several key elements of those agencies' proposal.January 8
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The proposed changes laid out by banking regulators would clear up confusion about what qualifies for CRA credit within so-called Opportunity Zones. But not all community development advocates are convinced that the changes are for the better.December 17
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CIT Group has agreed to lend and invest the money mostly in California as well as in the eight states where Mutual of Omaha Bank has branches.November 1
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Seeking to expand financial services access, tribal officials and some firms want regulators to award Community Reinvestment Act credit to any bank that funds projects in Native American communities.September 2
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Banks currently can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Joseph Otting said officials crafting a reform plan are considering limiting that to lower-income borrowers.August 9
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Will the new commitment, which is 5% over what the banks have reinvested recently on their own, assuage advocacy groups' concerns about the merger?July 22
!["Further delay [of CRA reform] will prevent these additional resources from reaching those who need them most in this time of national emergency," said Comptroller of the Currency Joseph Otting in April.](https://arizent.brightspotcdn.com/dims4/default/45686c1/2147483647/strip/true/crop/5760x3243+0+298/resize/460x259!/quality/90/?url=https%3A%2F%2Farizent.brightspotcdn.com%2F40%2F14%2Fee6cd5d544bd848ecc544e7f3fed%2Fotting-joseph-bl-050720.jpg)
