Possible CRA Overhaul

Two federal banking regulators said at a May 12 hearing that they will move forward with their plans to overhaul the Community Reinvestment Act, indicating they may even speed up those efforts. Democrats on the Senate Banking Committee told the heads of the Office of the Comptroller of the Currency and the FDIC that local governments, civil rights groups and some bankers have called on the two agencies to pause their efforts to make major changes to the CRA as the country grapples with the ongoing effects of the coronavirus pandemic.