August 05, 2022
A Call to Strengthen the Community Reinvestment Act
National Housing Trust submitted comments on August 4 to Office of the Comptroller of the Currency, the Federal Reserve, and the Federal Deposit Insurance Corporation on the proposed rulemaking to strengthen the Community Reinvestment Act (CRA). NHT offers two recommendations to the agencies:
- Strengthen the ability of CRA to advance racial equity, decarbonization and resilience goals by ensuring that banks receive credit for investments in climate resiliency, and by ensuring that carbon mitigation is included in such investments.
- Preserve and fortify the ability of CRA to invest in community development, particularly through CDFIs, by adopting a 50/50 split in point allocation between retail lending and community development.
Click the link below to read the submitted comments