November
20
2018
MHP comments on proposed CRA reform
MHP submitted formal comments today to the Office of the Comptroller of the Currency (OCC), which regulates most federally-chartered banks, raising concerns about proposed changes to federal Community Reinvestment Act regulations. MHP voiced strong objection to a proposed one-size-fits-all approach to CRA. Based on more than 30 years of engagement with banks around CRA lending, MHP argues that the OCC’s proposed “metric based framework” would weaken CRA and likely reduce bank lending to low and moderate income families and neighborhoods in Massachusetts.