Letter Writing Guide Assists Bankers With CRA Comments
February 21, 2020
Wednesday, April 8, is the deadline to submit comments
on a proposal to modernize the Community Reinvestment Act regulations
. MBA strongly urges bankers to share their thoughts on the proposal and has posted a comment letter writing guide
on its website to help bankers with their comment letters to the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency.
The guide, compiled by the American Bankers Association, highlights several key aspects of the proposal, such as assessment areas, performance measurement and data collection, that bankers could respond to in their comments. The guide also provides instructions for filing comment letters once completed.
Bankers should provide specific examples in their comment letters of how the proposal will affect their institution. Bankers also may want to include their own recommendations for improving the CRA regulatory and supervisory framework.