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Brainard explains Fed's CRA stance
Federal Reserve Board Governor Lael Brainard spoke at the Urban Institute yesterday on "Strengthening the Community Reinvestment Act by Staying True to Its Core Purpose." Without disparaging the proposal of the OCC and FDIC to amend their CRA regulations, Brainard described the Federal Reserve Board's approach to measuring CRA performance, indicating that the Board of Governors hopes to inform the public comment process with a goal of arriving at a uniform approach that will allow for an interagency final rule.