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ABA: The American Bankers Association

Community Reinvestment Act Modernization

Reflecting Changes in Technology, Consumer Preferences and the Business of Banking

ABA Position

ABA strongly supports modernizing CRA and has urged regulators to: align CRA resources with actual community needs; reflect changes in technology, consumer preferences and the business of banking; increase certainty and transparency regarding regulatory interpretations and standards; improve the supervisory process; and apply CRA-like requirements to other financial firms, including credit unions.

Guide to Commenting on CRA Modernization

Comments on the regulators’ proposed overhaul of Community Reinvestment Act regulations are due April 8. Use this guide to help draft an effective comment letter and shape the final rule.

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Krista Shonk

VP, Regulatory Compliance Policy, Fair & Responsible Banking

Regulatory Compliance and Bank Policy

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