Democratic Senators Call for CRA Changes to Help Minorities

Tuesday, May 29, 2018 - 3:00pm

Fifteen Democratic senators last week sent a letter to leaders of the three federal banking agencies, urging them to amend the Community Reinvestment Act (CRA) in a way that increases opportunity to members of minority groups. The letter to the Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation, highlighted the CRA’s contributions to low- and moderate-income communities, but said changes to the CRA are overdue.