skip to Main Content
Visit DMCPAS.com
OCC’S Otting: Regulators Consider Change To CRA Credit

OCC’S Otting: Regulators Consider Change To CRA Credit

Loans to high-income earners living in lower-income neighborhoods may no longer get Community Reinvestment Act credit under a proposed revamp of the law, a top regulator said Friday. Currently, banks can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Comptroller of the Currency Joseph Otting said that officials crafting a reform plan are considering limiting that to lower-income borrowers.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top