Today in Washington - November 27, 2018

November 26, 2018

Source: Elizabeth Sullivan - Director of Government Relations

CRA Comments 

AEO recently submitted comments to the Office of the Comptroller of the Currency (OCC) in response to a request for comment on modernization of the Community Reinvestment Act (CRA). AEO’s comments support modernization of the CRA in a manner that retains primacy of community impact, while creating incentives for innovation and high-value collaboration among low and moderate income (LMI) communities, financial institutions, and trusted intermediaries. AEO outlines several issues addressed by the OCC in its request including performance evaluation methods, redefining assessment areas for the CRA exam, expanding qualified activities, and determining the effectiveness of the CRA. 

You may read AEO’s submission here. 

Congress Returns to Appropriations 

Congress returns this week to finish out the remainder of the 115th term. Their focus will center on funding the government for FY19, as a continuing resolution (CR) passed in September is set to expire on Friday, December 7. As a reminder, a continuing resolution maintains government funding at its previous levels. Only five of twelve spending bills were passed prior to the CR being passed, leaving seven to be reconciled before the 116th Congress begins.

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