The Community Reinvestment Act (CRA) is 42 years old this year, which many would say is the perfect age for the classic midlife crisis. This is evident from the many calls to modernize it, which is exactly what is happening. According to Comptroller of the Currency Joseph Otting, when the Office of the Comptroller of the Currency (OCC) published an advance notice of proposed rulemaking inviting comment on ways to transform or modernize the regulations that implement the CRA, more than 1,500 comments made it clear that it is time to modernize the CRA rules. Continue reading >