Weakening CRA rules could reduce or eliminate banks’ obligation to invest in housing and community development and result in the loss of billions of dollars a year in loans to low- and moderate-income census tracts.
Send a letter to the OCC on your organization’s letterhead. You can use this sample letter as a template. It is crucial that the OCC hears specific examples on how the CRA has benefited your communities. Please be sure to include those specific examples in your organization’s letter. Once you send your own letter, please let the Network know.
Every community development organization that has ever received a grant, investment or loan from financial institution should send a letter urging the OCC and other federal regulators to protect the Community Reinvestment Act. Please also encourage your town and/or county to pass a resolution to also send a letter to the OCC defending CRA.