Cheat Sheet: Hopes and Hang-Ups on CRA Reform
The OCC received more than 1,300 comments on its advance notice of proposed rulemaking asking for responses on how to expand the 1977-era CRA, which grades banks on lending to low-to moderate-income communities in their branch networks. Opinions about the proposed rulemaking notice vary. Many in the industry have lauded the step taken by the agency, which insists it was merely trying to gather feedback. But some stakeholders say the agency's questions reflected its policy leanings.