CFE Coalition Comment Letter to the Office of the Comptroller of the Currency

The CFE Coalition submitted a comment letter to the Office of the Comptroller of the Currency (OCC), in response to their request for public comments on amendments to the Community Reinvestment Act of 1977 (CRA). This letter focused on the CFE Coalition’s support for modernizing the CRA to meet the changing needs of member banks, while preserving the original intent of the law. Based on the Coalition’s on-the-ground experience expanding financial access to millions of people, the CFE Coalition offers recommendations regarding the definition of CRA assessment areas, the eligibility of activities that could receive consideration during the examination process, maintaining and strengthening the service test and ensuring that any proposed evaluation methodology does not undermine the value and incentive for banks to work with local communities.