Critique of the OCC's one-ratio approach

Congress passed the Community Reinvestment Act (CRA) in 1977 to encourage depository institutions to meet the credit needs of lower income neighborhoods. The last major changes to the regulations implementing CRA came in 1995, which has led to no shortage of calls to modernize CRA for our digital era. In this episode, Jesse Van Tol, CEO of the National Community Reinvestment Coalition, offers his thoughts on recent regulatory proposals to modernize CRA and what the final outcome is likely to be under a Biden Administration.