ANHD Statement on Announcement of CRA Vote

October 25, 2023

ANHD looks forward to working with our partners to review the new CRA. We cannot continue to have a color blind CRA as the racial disparities in wealth and access to resources continue to widen #TreasureCRA

ANHD applauds the federal bank regulators - the Federal Reserve Board, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) - for taking meaningful steps to modernize and strengthen the rules governing the Community Reinvestment Act (CRA) in the first major update of the CRA in over 25 years. In 2022, ANHD & the Equitable Reinvestment Coalition engaged our communities on the importance of what the CRA is and why it must be updated.

We will work with our partners to review the updated legislation, but when we reviewed the notice of proposed rulemaking (NPR) in 2022, it did not go far enough to address racial disparities and combat displacement elsewhere. Systemic racism continues to harm Black, Indigenous and People of Color (BIPOC) and communities, impeding their ability to build wealth, access resources, and stay in their homes. None of this can be reversed with color-blind policies.

We look forward to working with our members and partners to evaluate the update changes to the CRA, and continue to advocate for the final update to reflect ANHD’s principles for CRA Reform.

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