Democrats in House, Senate Demand Time to Review, Offer Input on CRA Reform

Thursday, December 12, 2019 - 9:00am

Every Democratic member of the House Financial Services Committee and the Senate Committee on Banking, Housing and Urban Affairs signed a letter demanding adequate time to review and offer input on proposed changes to framework of the Community Reinvestment Act (CRA). The letter was sent to the heads of the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve System, which oversee the CRA. The OCC and FDIC are expected to release a proposed rule to reform CRA regulations today. The letter was signed by 36 members of the House of Representatives and 11 members of the U.S. Senate.