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Gruenberg: CRA Reform Should Preserve Community Focus

Gruenberg: CRA Reform Should Preserve Community Focus

Oct. 30, 2018 — The central issue in reforming the Community Reinvestment Act will be preserving its community focus while adapting it to a changing banking environment, FDIC board member Martin Gruenberg said. Speaking in New York, the former FDIC chairman said policymakers should consider how to adapt CRA to communities that do substantial business outside of assessment areas, such as through online and mobile technologies.

The Office of the Comptroller of the Currency in August requested public comment on how to modernize CRA regulations. ICBA has met with regulators in recent months on the CRA modernization project to encourage improved consistency and transparency.

Read Gruenberg’s Speech

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