JAMES K. COYNE: “As we consider the legislation before us today, I want to express my strong support for the Community Reinvestment Act.…”

“As we consider the legislation before us today, I want to express my strong support for the Community Reinvestment Act. Thanks to the CRA, many families and small businesses across the country have gained meaningful access to credit for the first time. Nationwide, more than one trillion dollars has been invested in traditionally underserved neighborhoods as a result of the CRA. I strongly support efforts to apply the CRA's requirements to the banking activities of non-bank financial institutions which seek to affiliate with banks. I deeply regret that the Rules Committee has not made such an amendment in order. I urge my colleagues to work with me as Congressional action on financial services legislation proceeds to ensure that the CRA will continue to promote equal access to credit.”