))
The fatal flaws in the 2023 CRA rule
Manage episode 484058593 series 3352301
Content provided by Dean Stockford - Len Suzio. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dean Stockford - Len Suzio or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
In Podcast 95, Len and Dean delve into the critical flaws of the 2023 Community Reinvestment Act (CRA) rule, emphasizing its detrimental impact on banks and communities. Len highlights the rule's exclusion of crucial loan types like multifamily mortgages and open-end mortgages, arguing they are vital for community development. He criticizes the rule's overly complex performance rating system, which he claims is incomprehensible and undermines its intended purpose. Len urges bankers to actively support the rule's repeal, emphasizing the need for public education and constructive feedback to reshape regulatory policies effectively. Dean underscores the importance of understanding these flaws and advocating for regulatory changes that enhance rather than hinder the CRA's goals.
Brought to you by GeoDataVision and M&M Consulting
96 episodes
Share
