Joint Letter to the OCC and FDIC on the Proposal to Amend the CRA Regulations

To Whom It May Concern:

The American Bankers Association (ABA)  and 45 state banking associations appreciate the opportunity to comment on the Office of the Comptroller of the Currency's (OCC) and the Federal Deposit Insurance Corporation's (FDIC) (collectively, the Agencies) proposal to amend their regulations implementing the Community Reinvestment Act (CRA).

For nearly five decades, bank CRA lending and investment has been a catalyst for economic growth and opportunity. In 2024 alone, banks provided roughly $340 billion in capital to low- and moderate-income communities in the form of mortgages, community development, and small business and small farm loans.

While many aspects of the current regulatory framework continue to work well and should be preserved, ABA supports updating the regulations to incorporate longstanding guidance and interpretations and to ensure that CRA evaluations remain appropriately tailored to the diversity of the financial institutions subject to the CRA. We also share the Agencies' goal of aligning the regulation with the CRA statute and appreciate the proposal’s renewed focus on credit needs, not deposit products. We also support the Agencies’ goal of reducing regulatory burden.

Download the joint comment letter to read the full text.