NHC strongly endorses Federal Reserve’s approach to CRA
Today, the Federal Reserve Board voted unanimously to approve an Advanced Notice of Proposed Rulemaking (ANPR) to modernize the Community Reinvestment Act (CRA). The National Housing Conference (NHC) applauds the Fed’s approach taken in the ANPR, which lays the groundwork for aligning all three regulators – including the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) – in a united regulatory regime, and is likely to improve investment to low- and moderate-income households and communities, and clarify examination requirements.