We are joined by Diego Zuluaga, a Cato Institute policy analyst, for a discussion of the proposed changes. After reviewing the current regulatory framework, we examine the proposal’s new qualifying activities criteria and approach to “branchless banking” in determining assessment areas, respond to criticism of its approach to public projects, look at the small bank opt-out and what in the proposal should be revisited, and consider the impact of the Fed’s non-participation.
To listen to the podcast, click here.
Diego previously joined us for a podcast last September in which the topics we discussed included the CRA’s history, its effectiveness in increasing access to credit and addressing discrimination, the role of community groups, and calls to expand CRA coverage to credit unions and fintech lenders. Click here to listen to the September podcast.