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Community bankers express concern about CRA rule

Federal Reserve's CDIAC expressed disappointment with the final rule modernizing compliance assessment with the Community Reinvestment Act. Concerns were raised about the impact of regulations on the economic viability of the CDI business model.

Jenn Day
Jan 10, 2024

Read the original full report from ABA Banking Journal here.

Here is a brief summary of the article:

  • Federal Reserve’s CDIAC disappointed with final rule to modernize Community Reinvestment Act.
  • Rule is overly prescriptive and lacks clarity for community banks.
  • CDIAC suggests banking agencies prepare financial institutions for changes.
  • CDIAC concerned asset size thresholds won’t protect smaller institutions.
  • CDIAC worried cumulative impact of past regulations will hurt CDI business model.
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