NCSHA Letter to OCC on Proposed Community Reinvestment Act Reforms
On October 29, 2021, NCSHA submitted this letter to the Office of the Comptroller of the Currency (OCC) on its September 2021 proposed rule to amend its Community Reinvestment Act (CRA) regulations finalized in June 2020. In the letter, NCSHA expressed support for OCC’s proposal which would effectively rescind its current CRA rules and replace them with its previous CRA regulations while working with other federal banking regulators to develop common CRA rules. NCSHA argues that the current CRA guidance could reduce bank investments in Housing Credits, Housing Bonds, and other needed community and economic development activities.
