Office of the Comptroller of the Currency (OCC)

Community Reinvestment Act Changes Expected to Benefit Low- and Moderate-Income Communities

Christopher G. Cox, NNPA NewswireJanuary 3, 2020

The Community Reinvestment Act was enacted in 1977 as a direct response to redlining, an unethical practice whereby banks and other lending institutions made it extremely difficult, if not impossible, for residents of poor, inner-city communities to borrow money, get a mortgage, take out insurance or access other financial services. Redlining did not take into consideration an individual’s qualifications or creditworthiness.

Family News (Family)

Community Reinvestment Act Changes Expected to Benefit Low- and Moderate-Income Communities Proposed Changes to the Community Reinvestment Act (CRA)

Christopher G. Cox, NNPA NewswireJanuary 2, 2020

The OCC hopes stakeholders will carefully review the proposed changes and submit comments so that a final rule can be issued in the first half of 2020.

Charlene Crowell Opinion

Will proposed CRA rule help or hurt Black America?

Charlene CrowellDecember 26, 2019

Amid the tinsel and garland celebrating the holiday season, two important federal financial regulators are planning how the future financial needs of low-and-moderate income (LMI) communities – including neighborhoods of color – will be met. In an effort to “modernize” the 1977 Community Reinvestment Act (CRA) on December 12 the board of the Federal Deposit Insurance Corporation (FDIC) endorsed a proposed Notice of Public Rulemaking (NPR) offered by the Office of the Comptroller of the Currency (OCC).

Business Charlene Crowell News (Business)Opinion

FDIC and OCC Proposals Would Strip Away Payday Loan Rate Caps In 16 States and in DC

Charlene CrowellNovember 28, 2019

For most people who either work, receive retirement or other fixed benefits, it seems that your money always goes a lot quicker than it comes. While some economists marvel at Wall Street’s brisk trading and declare that the economy is better than ever, not everyone has been included. On Main Street America, millions of people know that the cost of living is rising faster and higher than their incomes.