August 28, 2018

Brown Warns Against Divisive Changes to the Community Reinvestment Act

WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released the following statement on the Office of the Comptroller of the Currency’s (OCC) Advance Notice of Proposed Rulemaking (ANPR) seeking comment on ways to overhaul the Community Reinvestment Act (CRA). The CRA – meant to address generations of segregation and discrimination in bank lending – is one of the most important accomplishments of the Civil Rights Movement.

“If the OCC wants to make substantial changes to the Community Reinvestment Act, I expect the agency to have the support of the Civil Rights community, bipartisan Members of Congress, and federal regulators before moving forward.”