“America’s banks are in the business of investing in the communities they serve and creating economic opportunity. In that spirit, we welcome today’s joint proposal by the FDIC, the Federal Reserve and the OCC to modernize regulations under the Community Reinvestment Act. We particularly appreciate that the agencies are trying to develop a regulatory framework that better reflects today’s modern-day banking system and provides greater clarity, consistency and transparency to banks seeking to meet the needs of their customers and communities. We look forward to reviewing the proposal in detail and offering comments to achieve workable rules that help spur needed investment across the country without imposing unnecessary costs. This work will not be complete until the increasing array of non-bank financial services providers are held similarly accountable to the communities they serve.”