Banking Investments in Low Income Communities
2022-06-06T11:33:31-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvN2M5XC8wMDFcLzE2NTQ1MzE2NjFfMDAxLmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19Officials from banking regulatory agencies, scholars, and housing finance experts discussed proposed updates to the Community Reinvestment Act (CRA), a 1977 law that encourages banks to help meet the credit needs of borrowers, especially those in low and middle-income communities. The reforms are part of a joint effort from the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. In the first panel, the three leaders from the agencies talked about their work in updating the CRA, saying that the new rule is designed to increase lending to underserved and underbanked communities and that banks will be better assessed based on data and metrics. Another panel consisting of housing experts also discussed the proposed rule and how racial equity factors into the new regulations.
Officials from banking regulatory agencies, scholars, and housing finance experts discussed proposed updates to the Community Reinvestment… read more
Officials from banking regulatory agencies, scholars, and housing finance experts discussed proposed updates to the Community Reinvestment Act (CRA), a 1977 law that encourages banks to help meet the credit needs of borrowers, especially those in low and middle-income communities. The reforms are part of a joint effort from the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. In the first panel, the three leaders from the agencies talked about their work in updating the CRA, saying that the new rule is designed to increase lending to underserved and underbanked communities and that banks will be better assessed based on data and metrics. Another panel consisting of housing experts also discussed the proposed rule and how racial equity factors into the new regulations. close
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Michael Hsu Acting Comptroller Department of the Treasury->Office of the Comptroller of the Currency
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