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Research Publications > Public Comments > CRA Regulatory Framework

Our Position

The Community Reinvestment Act (CRA) has been a cornerstone of development finance for over 40 years. Federal regulators have made a preliminary proposal to alter how banking institutions are assessed and evaluated under this law. We argue there is a need to ensure the Act remains an effective mechanism for economic development while also promoting better transparency and accountability. These comments were submitted to the Comptroller of the Currency in November 2018.

Why This Matters

The financial industry has changed greatly since the creation of the Community Reinvestment Act. In an era of online banking, there is a need to reassess how the financial industry is incentivized to contribute to community economic development. We believe the proposed framework, however, does not currently reflect best practices and does not provide sufficient data transparency.

Suggested Citation

Carolina Small Business Development Fund. 2018. “Comments on Reforming the Community Reinvestment Act Regulatory Framework.” https://carolinasmallbusiness.org/publications/cra-regulatory-framework/.


Download the Comments (PDF)


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