Community Reinvestment Act (CRA)

MBA Supports Federal Banking Regulators on revamping regulations implementing the CRA.

Overview: The CRA was enacted in 1977, and since then, has been amended up to 4 times.  The first CRA implementing regulations were promulgated by the federal banking agencies in 1978.  These regulations have been amended several times, most significantly in 1995 and 2005.  There is a general consensus on all sides (the banking industry and the regulators) that the regulations have not kept up with modernizations in the banking industry, and are therefore, outdated and in need of overhauling.  The federal banking agencies are currently making efforts geared towards such an overhaul of the regulations - with the OCC issuing a proposal requesting input from stakeholders. MBA supports the overhaul, and will work with the federal banking agencies throughout the process.

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