An excerpt
We are writing to encourage you to use your existing authority to improve and update the administration of the Community Reinvestment Act (CRA). We applaud you for moving forward with updates to the CRA Questions and Answers (Qs and As) in recent years and hope that you will continue this process of modernizing CRA administration. As your 2013 proposed revisions to the CRA Qs and As noted, “This notice addressing several community development issues is intended to be the Agencies’ first step to addressing substantive and significant issues raised by commenters.” We propose changes to align CRA better with changes in the economy and the banking system that do not require you to reopen the regulations or the statute.
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