The U.S. Impact Investing Alliance is encouraged by the Office of the Comptroller of the Currency’s (OCC) announcement yesterday that they will reconsider the harmful regulatory changes to the Community Reinvestment Act (CRA) that were rushed through during the previous administration. The Alliance urges the OCC to leverage this action as the first step in joining with the Federal Reserve in their CRA reform efforts.

The CRA is a fundamental community investment policy that drives capital into underserved neighborhoods, supporting local economic development and opportunity creation. Policymakers must seize this opportunity to strengthen such a critical tool and center racial equity at its core as the country enters into the next phase of the recovery. Learn more about the Alliance’s vision for the future of the CRA by reading our comments to the Federal Reserve.