Dear USET/USET SPF Family,
Tomorrow, Tuesday, November 28, 2023, USET SPF will be co-hosting a webinar
with the Federal Reserve Bank of Minneapolis’s Center for Indian Country Development (CICD). The focus of this presentation will be on recent updates to regulations
implementing the Community Reinvestment Act (CRA). Specifically, this webinar will provide an opportunity for Tribal governments, federally insured banks, and other entities serving Native communities to take advantage of the new regulations. Of particular note in the recent regulatory changes includes incentives for banking institutions to conduct activities outside of Native Land Areas (NLAs).
Details regarding the upcoming webinar are as follows—
USET SPF has long participated in the rulemaking process to update the CRA regulations. We initially submitted comments
on March 9, 2020 to the Department of the Treasury’s Office of the Comptroller expressing our support for initiating a regulatory proceeding to update the CRA regulations, which included support for Indian Country. We submitted follow-up comments
on February 16, 2021 to the Board of Governors of the Federal Reserve System expressing our support to the Federal Reserve’s expressed interest to address the financial shortfalls of capital access and investment in Indian Country. Finally, on August 5, 2022, we submitted comments
on a Joint Notice of Proposed Rulemaking to the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the agencies) to amend the CRA. In our August 2022 comments, USET SPF recommended that Tribal Nations be empowered to designate our own NLAs, that the agencies should adopt broad considerations for what constitutes qualifying community development activities, and that the agencies should adopt impact-review metrics that identify banking investment that benefits our communities.
For more information on the webinar, including a list of speakers and an agenda, please click here. To view the Federal Register Notice of the recent updated CRA regulations, please click here.
For more information, please contact Brian Howard, USET SPF Senior Policy Analyst, at firstname.lastname@example.org.