The deadline to submit comments on the Notice of Proposed Rulemaking (NPR) on the Community Reinvestment Act (CRA) is fast approaching – Friday, August 5, at 11:59 pm ET.
The best chance we have to influence the final rule is if community groups put up a good showing and send in comment letters!
NCRC drafted three sample comment letters, including one for health care practitioners, that can be found on our #TreasureCRA page. On the page, under the “TAKE ACTION” tab, you will find the comment letters, which you can copy and edit as you see fit. You can find instructions on how to submit comments on the page as well. We suggest you submit to all three agencies.
The #TreasureCRA page also has a summary of the proposed rule and data tools to calculate the number of CRA dollars in local communities over the last decade. If you are an NCRC member, you can also access our fair lending tool to identify racial disparities that CRA reform must address in your community.
Though the NPR is strong on many fronts, there are several important aspects we want the agencies to reconsider: They must do more about CRA and race, and they must stop the proposed changes to about 20% of the bank CRA exams that would make those exams easier and reduce the level of community development financing in smaller cities and rural areas.
Important aspects we want to support: Preserve the proposed improvements to data collection and assessment areas so online or hybrid banks have most of their loans covered by CRA exams.
NCRC experts are ready and eager to help you craft your comment letters. You can contact us directly by using the form on our #TreasureCRA page.