Federal Reserve Board ("FRB") Governor Lael Brainard
summarized comment letters submitted by
academics, banks, banking trade associations, community and
consumer groups, related to the Office of the Comptroller of the
Currency's proposed
rulemaking to reform the Community Reinvestment Act
("CRA").
In remarks before the "Research Symposium on the Community
Reinvestment Act," sponsored by the Federal Reserve Bank of
Philadelphia, Ms. Brainard noted that commenters, community and
consumer groups:
- applauded the volume of CRA loans and
investments that support low-and-moderate income households and
communities;
- provided recommendations about
modernizing the procedures for evaluating a bank's CRA
activities;
