The OCC on its own has advanced efforts initially pressed by the Treasury Department to reform the rules governing depository institutions under the Community Reinvestment Act (CRA). Posed as a very preliminary exploration of CRA effectiveness, measurement, and enforcement, the ANPR is intended to advance debate and bring other agencies on board for substantive change. Although there is broad agreement by banks, analysts, and community groups that CRA requires a rewrite, there is significant and often bitter disagreement about how best to do so. For example, the OCC is particularly interested in a metrics-based evaluation methodology about which the FRB and FDIC have considerable concerns, as do many community groups.
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