Federal banking regulators considering change to CRA regulations CRA Regulatory Reform Federal banking regulators considering change to CRA regulations Led by OCC, with participation of Fed and FDIC Goals of reform: clarifying what activity is eligible for CRA consideration expanding where activity counts creating more objective way to evaluate CRA activity improving the transparency and timeliness of reporting ANPR released in August 2018 NPR possible this fall

Objectives are widely shared but great concern potential changes CRA Regulatory Reform Objectives are widely shared but great concern potential changes Regulators not unified OCC has been advocating for single metric Concerns about impact on Housing Credit equity markets OCC has suggested double counting LIHTC investment September letter from housing/community development organizations to OCC expressing concern about single metric and unified regulations Timing of regulatory process

Bernie Sanders Elizabeth Warren Cory Booker Kamala Harris Affordable Housing Proposals in Presidential Campaigns Bernie Sanders $1.48 trillion/10 years for HTF, $70 billion for public housing, fully fund section 8 Elizabeth Warren $445 billion/10 years for HTF Cory Booker $400 billion/10 years for HTF, renters credit Kamala Harris $100 billion program to increase minority homeownership Julian Castro $400 billion/10 years for HTF, 50% increase in LIHTC, renters credit

Common Themes Local zoning and land use regulation Affordable Housing Proposals in Presidential Campaigns Common Themes Local zoning and land use regulation Trump Task Force Democratic candidate support Fair Housing Enforcement Democratic candidates Increase Housing Trust Fund