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).
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.
Today, NHC joined with a diverse coalition of organizations in housing and community development to call for federal regulatory agencies to temporarily suspend housing-related rulemaking procedures that are unrelated to our nation’s response to the health and economic ramifications of the COVID-19 pandemic.
