NHC CEO Dworkin: OCC’s Final Rule ‘Eliminates the Fundamental Value of CRA and a Dangerous Distraction from Economic Recovery’
The National Housing Conference (NHC) this week expressed its support of a congressional resolution to repeal the Office of the Comptroller of the Currency’s (OCC) final rule on the Community Reinvestment Act (CRA).
NHC’s statement on OCC’s final rule for regulations under the Community Reinvestment Act (CRA)
The OCC has issued its final CRA rule just six weeks after the end of the comment period on the Notice of Proposed Rulemaking (NPR) and amid the worst health and economic crisis of our lifetimes. Banks, regulators and community groups must be singularly focused on responding to this unprecedented crisis, and not on bureaucratic and regulatory diversions that will sidetrack essential resources from the task at hand.