Though TheRe have been
significan T changes
in The Regula ToRy
landscape since 2005,
few revisions have been made to
the Community Reinvestment
Act1 (CRA). You might ask, then:
Why do I need to spend time
reading about the CRA when
there are so many compliance
concerns competing for my
attention? Today’s compliance
officers face increasing risk in
managing CRA examinations as a
result of a new focus on consumer
protection and the introduction
of the Consumer Financial
Protection Bureau (CFPB),
which was largely born out of
the nation’s economic downturn
and the resulting foreclosure
crisis. Hardly a week goes by that
allegations of predatory lending
activities are not in the news,
placing all lenders under greater
scrutiny by both the community
at large and examiners.
