Jump to Content
ABA: The American Bankers Association
Statement

ABA Statement on Federal Reserve's ANPR to Modernize CRA Rules

“Today's Advanced Notice of Proposed Rulemaking is an important step toward modernizing the Community Reinvestment Act in a manner that benefits communities and provides banks with regulatory clarity going forward. While we are still reviewing the ANPR with our members, we appreciate the Fed's measured, research-based approach to formulating this critically important rule.

“As the process moves forward, it is our hope that all three federal banking agencies will work toward a unified CRA framework featuring clear and concise rules for all banks that will stand the test of time. Joint regulatory action will prevent confusion and avoid unintended consequences for banks and the communities they serve. This is critically important as the banking industry works to meet the needs of low- and moderate-income communities and address inequities in access to credit. We look forward to joining other stakeholders in providing constructive input on this proposal.”

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.8 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $19 trillion in deposits and extend $11 trillion in loans.

Press Contact

Mike Townsend

(202) 663-5471

Contact Mike
Useful Links

Resources for the Media

Media Contacts

All inquiries from the press can be directed to one of our press contacts.

ABA Expert Photos

Hi-Res photos for use by the press.

ABA Media Appearances

Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.

Media Credentials

Complimentary press registrations are available for select events.

Join Our Media Lists

Want to be added to our news release list? Sign up here.

RSS Feed

Get ABA press releases via RSS.