Community Reinvestment   Development and Compliance   

 CRA Act Development and Compliance Department  

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The Greater Dallas Community Development Corporation CDC  formed a Compliance and Development Department in 1996 in partnership with the State Comptroller of Currency to review banking  practices under The  Community Re-investment Act in the communities where banks, credit unions and loan companies provided loans. It was shocking to see the disparity between minorities , non-minorities and immigrants. This was indicated by reviewing hundreds of loans and loan applications that were turned down. It was also an indication of unfair practices of discrimination and redlining that is still practiced today.  There can be no social justice until there is economic justice.

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We intend to encourage local non-profits, churches, Stake holders and grassroots community organizations and corporations to work in tandem with  The Community Reinvestment Act guidelines and The State Comptroller of Currency regulations to assist financial lending institutions in meeting their requirements and goals under fair lending practices especially in stressed and underserved communities   

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Community Reinvestment Development and Compliance

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 Our office of Community Community Reinvestment Development and Compliance has worked with  The  Community Reinvestment Act of 1977 (CRA) to encourage certain insured depository institutions to meet the credit needs of the communities in which they are chartered, including low- and moderate-income (LMI) neighborhoods, consistent with the safe and sound operation of such institutions.

The CRA requires federal banking agencies to

• assess the institution's record of meeting the credit needs of its entire community, including LMI neighborhoods, consistent with the safe and sound operation of such institution, and

• take such record into account in its evaluation of an application for a deposit facility by such institution.

 

US Comptroller of Currency

 

The Community Community Reinvestment Development and Compliance  has worked with the Office of the Comptroller of the Currency (OCC) for over 15 years. The (OCC) charters, regulates, and supervises all national banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC is an independent bureau of the U.S. Department of the Treasury and is led by the Comptroller of the Currency.

  

On May 5, 2022, the OCC, the Federal Reserve Board (FRB), and the Federal Deposit Insurance Corporation (FDIC) jointly released a notice of proposed rulemaking (NPR) to strengthen and modernize the Community Reinvestment Act (CRA) regulations to better achieve the purpose of the CRA. The OCC encourages stakeholders to review the proposed rule and provide comments on or before the close of the comment period on August 5, 2022.

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