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OCC Releases Final CRA Rule

“While some constructive changes have been made to the proposed rule, the fundamental basis of our objections remain intact as the final rule demonstrably guts the purpose and intent of the CRA. In many ways, the rule reduces the clarity and consistency that served as the impetus to modernize CRA in the first place.” – David M. Dworkin

What Role Can Affordable Housing Play in the Economic Comeback?

“Housing construction is going to play a critical role in getting people back to work,. It really reframes the whole conversation because it’s not just a housing issue. It’s a jobs issue. There are going to be millions of people who need to go back to work, who are not going to have jobs, and we have a pre-existing shortage of affordable housing.” – David M. Dworkin

What Would It Mean to Cancel Rent?

“We want to have a diverse economy. We don’t want to create opportunities for bottom feeders to take advantage of a crisis. We don’t need to enable that by forcing small and independent apartment owners into bankruptcy.” – David M. Dworkin

Millions of homeowners are now delaying their mortgage payments

“The numbers are big, but are going to get even bigger. We are only two mortgage payments into this crisis, and already 6% of the people paying mortgages are asking for help. Others can’t pay but haven’t asked for help yet. By May, we will have millions more unemployed and unable to pay.” – David M. Dworkin

Regulators ‘full steam ahead’ on CRA reform despite coronavirus pandemic

“Moving forward on CRA modernization now, in the light of this crisis, is breathtakingly irresponsible. I’m as strong a supporter of CRA modernization as anyone — it’s essential — but it has to be done right. And we have no idea what our communites are going to look like a year from now, or what needs they’ll have after this.” – David M. Dworkin

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