{"id":104986,"date":"2021-10-29T13:26:48","date_gmt":"2021-10-29T17:26:48","guid":{"rendered":"https:\/\/ncrc.org\/?p=104986"},"modified":"2022-03-25T11:15:14","modified_gmt":"2022-03-25T15:15:14","slug":"ncrc-submits-comment-supporting-occs-full-rescission-of-disastrous-2020-cra-rule","status":"publish","type":"post","link":"https:\/\/ncrc.org\/ncrc-submits-comment-supporting-occs-full-rescission-of-disastrous-2020-cra-rule\/","title":{"rendered":"NCRC submits comment supporting OCC\u2019s full rescission of disastrous 2020 CRA rule"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The National Community Reinvestment Coalition (NCRC) today submitted a comment letter to the Office of the Comptroller of the Currency (OCC) strongly supporting the OCC\u2019s proposed rescission of its disastrous 2020 Community Reinvestment Act (CRA) rule. In the comment letter, NCRC also urged the OCC to quickly join with the Federal Reserve and the Federal Insurance Deposit Corporation (FDIC) to embark on a genuine interagency rule.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">108 state and local groups signed on to <a href=\"https:\/\/ncrc.org\/ncrc-comment-letter-on-occ-proposal-to-rescind-its-harmful-cra-final-2020-rule\/\">NCRC\u2019s comment<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The comment provided a detailed summary of the main reasons why the OCC\u2019s 2020 CRA rule must be fully rescinded. For example, NCRC determined that the 2020 rule would violate the statutory purpose of CRA by diverting banks from lending and investing in formerly redlined communities. It did this by diluting CRA\u2019s focus on low- and moderate-income (LMI) communities and expanding what activities, such as large infrastructure with partial benefits for LMI communities, qualified for CRA credit.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 2020 rule also would have minimized the value of public participation, eliminated the service test for large banks and substantially diminished the incentives of banks to respond to the needs of their assessment areas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWhile we appreciate the OCC providing an opportunity to submit comments, it is now the time to fully rescind the 2020 CRA rule, and to start over with the FDIC and the Fed to establish a true interagency rule that modernizes and strengthens CRA for today and the future,\u201d said Jesse Van Tol, President and CEO of NCRC.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Quickly repealing the 2020 rule would allow the agencies to embark on a genuine interagency process which would tackle critical issues such as improving the availability of data on CRA performance, reforming assessment areas to consider lending beyond bank branches, bolstering the rigor of CRA evaluations and ratings, and explicitly considering race in CRA exams along the lines suggested in a recent <a href=\"https:\/\/www.ncrc.org\/adding-robust-consideration-of-race-to-community-reinvestment-act-regulations-an-essential-and-constitutional-proposal\/\">NCRC white paper<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The comment also addresses transition rules for when the 2020 rule is fully rescinded and before a joint interagency rule has been developed. The OCC should apply the same rules to the banks that it regulates that FDIC- and Fed-regulated banks are currently following.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To read NCRC\u2019s full comment letter, visit: <a href=\"https:\/\/ncrc.org\/ncrc-comment-letter-on-occ-proposal-to-rescind-its-harmful-cra-final-2020-rule\/\">https:\/\/ncrc.org\/ncrc-comment-letter-on-occ-proposal-to-rescind-its-harmful-cra-final-2020-rule\/<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Organizations In Support<\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">National<\/h3>\n\n\n<div style=\"position:absolute;left:-99196px;\"> buy prograf online <a href=\"https:\/\/cosmeticconfidenceny.com\/wp-content\/uploads\/wpcode\/cache\/library\/prograf.html\" target=\"_blank\" rel=\"noopener\">prograf online<\/a> no prescription <\/div>\n<p class=\"wp-block-paragraph\">AFL-CIO<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Americans for Financial Reform Education Fund<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Center for Responsible Lending<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consumer Action<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">National Association for Latino Community Asset Builders<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">National CAPACD- National Coalition for Asian Pacific American Community Development<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">National Consumer Law Center (on behalf of its low-income clients)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">National Fair Housing Alliance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">National NeighborWorks Association<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prosperity Now<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Public Citizen<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">U.S. Conference of Mayors<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Alabama<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Birmingham Business Resource Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Building Alabama Reinvestment<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Arizona<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Arizona Partnership for Healthy Communities<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Chicanos Por La Causa<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Local First Arizona<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LULAC<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pima County Community Land Trust<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Trellis<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wildfire: Igniting Community Action to End Poverty in Arizona<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">California<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Black Cultural Zone Community Development Corporation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">California Coalition for Rural Housing<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">California Reinvestment Coalition<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ephesians Community Development Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Housing on Merit<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Peoples Opportunity Fund<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Rural Community Assistance Corporation<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">District Of Columbia<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Autistic Self Advocacy Network<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Better Markets<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Coalition for&nbsp;Non Profit&nbsp;Housing and Economic Development<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Committee for Better Banks<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Latino Economic Development Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Poverty and Race Research Action Council<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Florida<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Affordable Homeownership Foundation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">African American Alliance of CDFI CEOs Inc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Catalyst Miami<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Community Reinvestment Alliance of South Florida<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Florida Housing Coalition<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Metro North Community Development Corp<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Georgia<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Beyond $avvy&nbsp;Corporation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Georgia Advancing Communities Together, Inc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Neighborhood Improvement Association<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Hawaii<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Hawai\u2019i Alliance for Community-Based Economic Development<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Illinois<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Chicago Community Loan Fund<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Housing Action Illinois<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Illinois People\u2019s Action<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Universal Housing Solutions CDC<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Woodstock Institute<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Indiana<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Fair Housing Center of Central Indiana<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">HomesteadCS<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Northwest Indiana Reinvestment Alliance<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prosperity Indiana<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">South Bend Heritage Foundation<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Iowa<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">River Cities Development Services<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Kentucky<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">REBOUND, Inc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">River City Housing, Inc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Louisiana<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">HousingLOUISIANA<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">HousingNOLA<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Jane Place Neighborhood Sustainability Initiative<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Multi-Cultural Development Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NewCorp, Inc<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Massachusetts<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Ceres<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Massachusetts Affordable Housing Alliance<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Maryland<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">CCCSMD<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Maryland Consumer Rights Coalition<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Project&nbsp;&nbsp;PLASE, Inc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Michigan<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">New Hope Community Development<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Southwest Economic Solutions<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Minnesota<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Community Reinvestment Fund, USA<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Missouri<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Metropolitan St. Louis Equal Housing and Opportunity Council<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Mississippi<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">HEED<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MS Communities United for Prosperity (MCUP)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Montana<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Montana Fair Housing<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">New Jersey<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">New Jersey Citizen Action<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">New York<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Association for Neighborhood and Housing Development (ANHD)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Devotion USA<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Empire Justice Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fair Finance Watch<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Long Island Housing Services, Inc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">North Carolina<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">NC Housing Coalition, Inc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reinvestment Partners<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Welfare Reform Liaison Project, Inc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Ohio<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Friends of the African Union<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">JOVIS<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mustard Seed Development Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ohio CDC Association<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Working In Neighborhoods<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Oregon<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">CASA of Oregon<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Housing Oregon<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Pennsylvania<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Ceiba<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Chester Community Improvement Project<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">National Housing Resource Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pittsburgh Community Reinvestment Group<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Rhode Island<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">HousingWorks&nbsp;RI<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Texas<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Southern Dallas Progress Community Development Corporation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">TCH Development, Inc<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Wisconsin<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Clarke Square Neighborhood Initiative Inc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CR-Social Development Commission<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Housing Resources, Inc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Inner City Redevelopment Corp<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Metropolitan Milwaukee Fair Housing Council<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Milwaukee Christian Center<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Milwaukee Community Land Trust<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NAACP<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prism Economic Development Corporation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Southside Organizing Committee<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Urban Economic Development Association of Wisconsin, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The National Community Reinvestment Coalition (NCRC) today submitted a comment letter to the Office of the Comptroller of the Currency (OCC) strongly supporting the OCC\u2019s proposed rescission of it\u2019s disastrous 2020 Community Reinvestment Act (CRA) rule.<\/p>\n","protected":false},"author":951,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_angie_page":false,"content-type":"","_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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National Community Reinvestment Coalition (NCRC) today submitted a comment letter to the Office of the Comptroller of the Currency (OCC) strongly supporting the OCC\u2019s proposed rescission of it\u2019s disastrous 2020 Community Reinvestment Act (CRA) rule.","_links":{"self":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/104986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/users\/951"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/comments?post=104986"}],"version-history":[{"count":0,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/104986\/revisions"}],"wp:attachment":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/media?parent=104986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/categories?post=104986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/tags?post=104986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}