In this episode of the Compliance 911 Show, hosts Dean Stockford and Len Suzio are joined by special guest Linda Ezuka for the second part of their series on the Community Reinvestment Act (CRA). Linda, the founder of CRA Today and the CRA Hub, shares her extensive expertise on CRA compliance, community development finance, and the new CRA rules introduced in 2023.
The discussion delves into the complexities and challenges posed by the new CRA regulations, including the concerns expressed by bankers about adapting to these changes. Linda provides valuable insights into how financial institutions can prepare for the transition, balancing the legacy CRA rules with the new requirements.
Linda also highlights the potential opportunities offered by the new CRA, such as partnerships with minority depository institutions and community development financial institutions. The conversation explores how these collaborations can enhance service to disadvantaged communities and improve financial literacy.
Additionally, the episode touches on the introduction of calibrated benchmarks for assessing bank performance, and the importance of understanding community context when evaluating CRA activities.
Join us for this informative session as we explore the evolving landscape of the Community Reinvestment Act and learn how banks and community groups can work together to better serve their communities.
CRAtoday: cratoday.com
CRAhub: cratoday.com/hub
Linda: linda@cratoday.com
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