Washington D.C. — Today, BPI President & CEO Greg Baer issued the following statement in response to the Federal Reserve’s proposal to update the Community Reinvestment Act (CRA):
Today’s issuance by the Federal Reserve is a welcome addition to the conversation on modernization of the CRA regulatory framework. We continue to agree with the statements of several of the Federal Reserve governors that interagency cooperation is key for a regulatory framework that best achieves the goals of CRA.
About the Bank Policy Institute. The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.