And fourth, the new CRA rule should align evaluations and data collection to bank size and type. One of the strengths of the banking sector is its diversity of institutions, so a modern CRA must accommodate banks of different sizes and business models and ensure that smaller banks do not have the same requirements as large banks with much greater capacity.
I know that many of you are eagerly awaiting the new CRA rule. Let me assure you that all three agencies are diligently working together to craft a final rule in light of the extensive public comments we received on our proposal.