Comptroller Calls for Modernization of CRA Regulations, Expansion of Eligible Activities

Thursday, June 14, 2018 - 12:30pm

The Comptroller of the Currency told the House Financial Services Committee Wednesday that his agency will modernize its regulatory approach to the Community Reinvestment Act (CRA) and reduce “unnecessary regulatory burden” on national banks and federal savings associations. Joseph M. Otting also said he would like to expand the types of activities eligible for CRA consideration and will soon solicit comments on how to best modernize the CRA regulatory framework.