MBA Education Webinar July 15: Planning for Community Reinvestment Act Modernization
Efforts to modernize the Community Reinvestment Act (CRA) began in 2010 and gained momentum last year when the OCC issued a rule to improve the CRA framework and FDIC jointly proposed new rules. But hopes for closure were short-lived as the FDIC ultimately abandoned the effort and the OCC recently announced the ditching of most of its 2020 rules. Meanwhile, the Fed is evaluating industry and advocate responses to 99 questions it posed on CRA modernization that may form the basis for uniform regulation. With an ever-changing landscape, along with some recent activity at the state-level, it’s important to evaluate the relevancy of CRA requirements on mortgage lending.
Join MBA and industry experts as they discuss the current state of modernization, including a survey of comments received by the Fed on key issues, prospects for modernization by the three federal regulators, and challenges in conducting a CRA program when the current rules are on the verge of being changed.
The webinar takes place Friday, July 15 from 2:00-3:00 p.m. ET. For more information and to register, click here.