Community Reinvestment Act Overhaul & Other Key Lending

Webcast with Pillsbury Winthrop Shaw Pittman LLP

On May 5, 2022, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve (Fed), and the Office of the Comptroller of the Currency (OCC) issued a joint Notice of Proposed Rulemaking to "strengthen and modernize" the regulations that implement the Community Reinvestment Act (CRA). This proposed overhaul has widespread ramifications for almost every bank in the country.

Guidehouse’s, Kathryn Rock and Gregory Heller were joined by Pillsbury’s Senior Policy Advisor, The Honorable William Lacy Clay Jr., Partner, Deborah Thoren-Peden and Brian Montgomery, Senior Counsel, Financial Industry for a timely discussion on the future of the CRA and what this means for community development and the banking industry. Panelists also talked through other fair lending hot topics including the implementation of Section 1071 for financial institutions. 

 

Speakers:

  • Kathryn Rock, Partner, Financial Services 
  • Gregory Heller, Director, Housing & Community Solutions – Capital Projects and Infrastructure, Guidehouse
  • The Honorable William Lacy Clay Jr., Senior Policy Advisor, Public Policy, Pillsbury Winthrop Shaw Pittman LLP      
  • Brian Montgomery, Senior Counsel, Financial Industry Group, Pillsbury Winthrop Shaw Pittman LLP      
  • Deborah Thoren-Peden, Partner, Corporate, Pillsbury Winthrop Shaw Pittman LLP

 

Part of the strengthening and modernization of these regulations is, and this is rare, in policy making that all interested parties seem to be satisfied with the fact that these changes will clearly define which activities qualified for CRA credit and give greater clarity and consistency and transparency to the institutions, and clearly delineate the activities that will qualify for the CRA credit.

The Honorable William Lacy Clay Jr.

Senior Policy Advisor, Public Policy, Pillsbury Winthrop Shaw Pittman LLP

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