FDIC Chair Says Agency’s Priorities Include Strengthening the CRA
Martin J. Gruenberg, acting chair of the Federal Deposit Insurance Corporation (FDIC), today released a statement of the FDIC’s priorities for the coming year, including strengthening the Community Reinvestment Act (CRA). Gruenberg’s statement featured five areas of emphasis: strengthening the CRA, addressing financial risks posed by climate change, reviewing the bank merger process, evaluating crypt-asset risks and finalizing the Basel III capital rule. Concerning the CRA, Gruenberg said the Federal Reserve, Comptroller of the Currency and FDIC plan to act jointly in the “near future” on a notice of proposed rulemaking on a revision of CRA regulations and said action on the revision would be a top priority of the FDIC.
Stay aware of the latest regulatory moves in community development investment with a subscription to the Novogradac Journal of Tax Credits.