Proposed CRA Regulations Prompt Concerns for Future of Affordable Housing, Community Development Investment and Lending

 

There is plenty of concern about the Community Reinvestment Act (CRA) regulations proposed Jan. 9 by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), starting with the “single-metric test.”

“The test would aggregate the dollar volume of all of a bank’s CRA activities on its balance sheet and divide that by the bank’s domestic retail deposits,” said Buzz Roberts, president and CEO of the National Association of Affordable Housing Lenders (NAAHL).