The Community Reinvestment Act was enacted in 1977 with a worthy goal of encouraging banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. The rules implementing CRA, however, have not kept pace with the digital revolution and evolving customer preferences. This has prompted a regulatory review of the best way to modernize the CRA regulations.
ABA strongly supports updating CRA and has urged regulators to: reflect changes in technology, increase certainty and transparency regarding regulatory interpretations and standards, improve the supervisory process, and apply CRA-like requirements to other financial firms, including credit unions.
Related Training & Events
- ABA Experts Webinar: What You Need to Know about the CRA Final Rule
Recorded Webinar |November 3, 2023
- Serving Customers With Disabilities
Upcoming Webinar |February 22, 2024 | 2 - 3 PM ET
- Mitigating Check Fraud: Tips from USPIS
Upcoming Webinar |February 1, 2024 | 2 - 3 PM ET
- Multicultural Banking
Upcoming Webinar |January 24, 2024 | 12 - 1 PM ET