Treasury Also Proposes Looking to Update CRA

Posted By: Kathleen O. Blanchard

Treasury Also Proposes Looking to Update CRA - 06/14/17 01:17 PM

The Treasury report that was issued on June 12th recommends a fresh look at CRA to standardize and modernize the regulation. So, this is a chance to bring it into the modern world.

Also, the Treasury is recommending repeal of 1071, the Dodd Frank rule to report on small business loans for women and minority owned businesses.

The full report is at

Treasury Report

Make sure to comment at all stages.
Posted By: RR Jen

Re: Treasury Also Proposes Looking to Update CRA - 06/14/17 01:46 PM

An update would be nice, bringing CRA into the electronic age!
Posted By: Kathleen O. Blanchard

Re: Treasury Also Proposes Looking to Update CRA - 06/14/17 01:59 PM

It would be great to align it with current and future banking products and practices. Bring it into the internet age, a bit belatedly.
Posted By: CompliantOkie

Re: Treasury Also Proposes Looking to Update CRA - 06/14/17 02:32 PM

It would be great for the agencies to acknowledge that online banking has changed how our customers interact with us and where our customer base lives. Sure we serve the needs of our immediate community but we can take loan applications and open deposit accounts for anyone living in the U.S.
Posted By: RR Jen

Re: Treasury Also Proposes Looking to Update CRA - 06/14/17 02:44 PM

Finding a balance between branch hours and technology like mobile deposit and interactive teller machines would be nice.