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<strong>CRA Modernization</strong>
<p>Regulators have called hearings for testimony on how the Community Reinvestment Act and the Home Mortgage Disclosure Act can be updated to better fulfill their roles in encouraging lending, investments, and services by financial institutions in low-and-moderate income communities.</p>
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<strong>Breakthrough in Predatory Lending Fight</strong> 
<em>The OTS Issues Supervisory Directive Against MetaBank</em>
<p>This action (October 6th, 2010) thwarts a new entrant into the Refund Anticipation Loan market. Eliminates MetaBanks high cost payday product, the i-advance, that was available through NetSpend cards.</p>
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<strong>CRA Links</strong>
<ul><li><a href="http://cra-nc.org/files/Download/Skillern%20Atlanta%20CRA%20Testimony.pdf">Peter Skillkern’s testimony on CRA</a>. (August 8, 2010, Atlanta)
<li><a href="http://cra-nc.org/files/Download/Full%20HMDA%20hearing%20Comments%20Adam%20Rust.pdf"> Adam Rust’s testimony on HDMA</a>. (July 15, 2010, Atlanta)</li></ul></td>
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<strong>Predatory Lending Links</strong> 
<ul><li>Read the CRA-NC <a href="http://cra-nc.org/files/Download/Press%20Release%20for%20OTS%20Supervisory%20Directive-1.pdf">press release</a>.
<li>Our March 30th <a href="http://cra-nc.org/files/Download/OTS%20MetaBank%20Summary.pdf">comment letter to OTS</a>. 
<li>Joint Letter Urging the <a href="http://cra-nc.org/files/Download/Letter%20to%20OTS%20re%20adopting%20OCC-FDIC%20standards%20for%20RAL%20banks.pdf">OCC and FDIC to Stop RALs</a>.
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