More generally, in some areas further work and analysis is needed to strengthen our understanding of underlying issues, before the right reforms can be formulated. But don’t get me wrong: more analysis cannot be a pretext for inaction. In fact, there was a general consensus that progress is needed on many issues mentioned in the EPG report.
A modernized CRA should help move the needle on credit access, wealth building, and the availability of community development financing. This includes strengthening the regulations to ensure that a wide range of low-income and minority banking needs are being met.