WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released a statement regarding the final rule release by the Office of the Comptroller of the Currency (OCC) to modernize the Community Reinvestment Act (CRA):

“This update comes at a very welcome time. From the largest cities in America to the smallest town in rural Missouri, everyone has been affected by the economic fallout caused by the COVID-19 crisis. The modernization of the CRA is a perfect reminder of the need for banks to reinvest in their communities and get their local economies going again.”

“In the 43 years since CRA was signed into law, banking has evolved immensely. I applaud the OCC for recognizing that evolution and updating their regulations to help the consumers of today.”