SO WHERE IS CRA HEADED NOW?

News has been leaking all week, now it is official:

  • The Office of the Comptroller of the Currency (OCC) is publishing a final Community Reinvestment Act (CRA) rule today;
  • Comptroller of the Currency Joseph Otting is resigning tomorrow; and
  • The Federal Deposit Insurance Corporation is not joining the final CRA rule at this time.

That leaves many unanswered questions, including what happens next to CRA?