The Community Reinvestment Act: Thirty Years of Accomplishments, but Challenges Remain

 Financial Services Committee to Hold Hearing on the Community Reinvestment Act

Washington, DC – Rep. Barney Frank (D-MA), chairman of the House Committee on Financial Services today announced that the committee will hold a hearing entitled “The Community Reinvestment Act: Thirty Years of Accomplishments, but Challenges Remain.” The hearing will examine the impact of CRA on the provision of loans, investments and services to under-served communities.  In addition to exploring CRA’s success, the hearing will examine challenges that prevent the law from being more effective.   

Witness List & Prepared Testimony:

Panel One

• Ms. Sandra Braunstein, Director of the Division of Consumer and Community Affairs, Federal Reserve Board
• Ms. Sandra Thompson, Director of the Division of Supervision and Consumer Protection, Federal Deposit Insurance Corporation
• Ms. Ann Jaedicke, Deputy Comptroller for Compliance Policy, Office of the Comptroller of the Currency
• Ms. Montrice Godard Yakimov, Managing Director of Compliance and Consumer Protection, Office of Thrift Supervision
• Mr. Howard F. Pitkin, Commissioner, Connecticut Department of Banking 

Panel Two

• Ms. Ellen Seidman, Director of the Financial Services and Education Project, New America Foundation
• Mr. John Taylor, Chief Executive Officer, National Community Reinvestment Coalition
• Ms. Marva Williams, Senior Program Officer, Chicago Local Initiatives Support Corporation
• Mr. Larry White, Professor of Economics, New York University – Stern School of Business
• Mr. Michael Barr, Professor, University of Michigan Law School 
             

Panel Three

• Ms. Judy Kennedy, President and Chief Executive Officer, National Association of Affordable Housing Lenders
• Mr. Rahn V. Barnes, Vice President/CRA Officer/Manager of the Community Development Dept., Provident Bank, on behalf of the American Bankers Association
• Mr. Ron Homer, Chief Executive Officer, Access Capital Strategies LLC
• Ms. Cynthia  Blankenship, Vice Chairman and Chief Operating Officer, Bank of the West, on behalf of the Independent Community Bankers Association
• Mr. Larry Fish, Chairman, Citizens Financial Group

Available Member Statements: Congressman Marchant