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The Week Ahead: Modernizing the Community Reinvestment Act

On Friday, June 3, from 10:30 a.m. - 12:15 p.m. EDT, the Urban Institute will be hosting a hybrid live and in-person event entitled "Modernizing the Community Reinvestment Act: Ensuring Banks Meet the Credit Needs of Their Communities."

The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation recently proposed updates to the regulations implementing the Community Reinvestment Act (CRA), setting into motion a joint effort to modernize a key policy tool that encourages broader access to banking services.

Join the Urban Institute, leaders of the three federal banking regulatory agencies, and housing finance experts for a hybrid in-person and virtual event focused on the proposed regulations, the future of the CRA, and new Urban Institute research.

Enacted in 1977 to combat redlining, the CRA helps ensure federally insured banks meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. The proposed changes are the first significant interagency revision to CRA regulations in nearly 30 years.

You can register by clicking here, and here are the speakers who will be participating:

The CRA and Policy Developments

  • Lael Brainard, Vice Chair, Board of Governors, Federal Reserve System
  • Martin J. Gruenberg, Acting Chairman, Board of Directors, Federal Deposit Insurance Corporation
  • Michael J. Hsu, Acting Comptroller of the Currency, Office of the Comptroller of the Currency
  • Sarah Rosen Wartell, President, Urban InstituteĀ (moderator)

New Data from the Urban Institute

  • Brett Theodos, Senior Fellow, Metropolitan Housing and Communities Policy Center, Urban Institute
  • Linna Zhu, Research Associate, Housing Finance Policy Center, Urban Institute

Reflections on Updates to the CRA

  • Marla Bilonick, President and CEO, National Association for Latino Community Asset Builders
  • Lisa Rice, President and CEO, National Fair Housing Alliance
  • Benson F. "Buzz" Roberts, President and CEO, National Association of Affordable Housing Lenders
  • Janneke Ratcliffe, VP, Housing Finance Policy Center, Urban Institute (moderator)

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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