Opportunity Finance Network warns OCC, FDIC CRA proposal weakens incentives for community investment

• Opportunity Finance Network warned proposed OCC-FDIC changes to the Community Reinvestment Act would weaken incentives for bank community investment.
• CEO Harold Pettigrew said the proposal risks reducing private capital for affordable housing, small businesses, small farms, community development.
• OFN flagged concerns over revised bank asset thresholds, narrower community investment definitions, grant treatment that underweights their role.
• OFN plans a formal comment urging a unified interagency CRA framework with the Federal Reserve to improve consistency and certainty.
• OFN said the final rule should be judged on whether it strengthens capital flows to underserved communities, calling for major revisions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Opportunity Finance Network (a Pennsylvania non-profit Corp) published the original content used to generate this news brief on August 06, 2026, and is solely responsible for the information contained therein.