Tuesday, April 9 at 10:00 AM – The Subcommittee on Consumer Protection and Financial Institutions will convene a hearing entitled, “The Community Reinvestment Act: Assessing the Law’s Impact on Discrimination and Redlining.”
We are told the hearing will include a wide-ranging look at CRA and will look at the “past, present and future” of the issue.
Although there are no indications of a specific credit union angle, the bank lobby has indicated a desire to include credit unions under the CRA.
Others such as the National Consumer Law Center and/or other consumer groups may testify—some of those groups have in the past recommended credit unions be put under CRA.
Here is DCUC’s position with respect to the Community Reinvestment Act.
More to follow.
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