Statement from the Low Income Investment Fund on the Federal Reserve’s Approach to CRA Modernization
On September 21, 2020 the Federal Reserve Board unanimously voted to issue an advance notice of proposed rulemaking (ANPR) to collect public comments on proposed changes to the Community Reinvestment Act (CRA). LIIF CEO Daniel A. Nissenbaum issued the following statement in response to the Federal Reserve’s proposal: “As a community development financial institution (CDFI)…