CRA in the Crosshairs: Is Your Community at Risk?
Catherine Howard
The ninth episode of The Future of CDFIs webinar series focused on proposed Community Reinvestment Act (CRA) rule changes by the OCC and FDIC and their potential impact on communities. It featured industry experts Sarah Brundage, President and CEO of NAAHL, and Catherine "Cat" Howard, President of the California CDFI Community Vision. The presenters detailed key components of the proposal, including shifts in bank asset thresholds, new restrictions on operating grants, and an increased emphasis on lending over investments. They also raised concerns that these changes could lead to significant reductions in community development financing in smaller and rural markets. Our speakers illustrated how CRA-motivated capital powers affordable housing, non-profit operating capacity, and local economic development, and urged attendees to submit detailed comment letters prior to the October 13 deadline.
