Nov. 20, 2018
ICBA called on regulators to improve consistency and transparency as they reform the Community Reinvestment Act framework. In a letter to the OCC, ICBA said examiner expectations are unclear, with CRA credit varying from exam to exam.
ICBA also said that the FDIC and Federal Reserve should be part of future modernization efforts to maximize regulatory consistency. Among its other recommendations, ICBA called on regulators to:
- ensure CRA assessment areas are identified and delineated by community banks rather than regulators,
- update asset thresholds to reflect the current banking environment,
- carefully consider the ancillary effects of any metric-based performance test, and
- release a list of activities that provide a presumption of CRA credit.