In response to proposed changes to the Community Reinvestment Act (CRA) that would harm affordable housing investment, LeadingAge joined a coalition of housing and lending organizations to fight back.

The Community Reinvestment Act, enacted in 1977, requires banks to reinvest part of their earnings back into their communities; because investment yields on affordable housing communities are often more moderate than other forms of investment, it takes requirements like those under the CRA to drive affordable housing investment specifically. In fact, the CRA currently drives roughly 80% of equity investments in the Low Income Housing Tax Credit (LIHTC) each year, which is the primary tool nationwide for developing new moderately affordable housing units.

However, CRA changes proposed by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) could alter the CRA’s definitions and requirements detailing which banks are required to reinvest, potentially reducing the pool of CRA-impacted large banks by 60%, reflecting billions of dollars of current investment in housing.

LeadingAge, along with other steering committee members of the ACTION Campaign—a national grassroots coalition of more than 2,400 organizations and businesses focused on protecting, expanding, and strengthening the LIHTC—called the consequences of the proposed changes “damaging” and urged the OCC and FDIC to leave the thresholds as they current stand under the CRA rule.

The October 13, 2026, coalition letter reads: “For nearly half a century, the CRA has driven banks to extend private capital financing to local communities they serve, combating the legacy of redlining, promoting equitable lending, and facilitating reinvestment in low- and moderate-income places and people. CRA has spurred lending and investments in homeownership, small businesses, healthcare, childcare, and other community needs, but nowhere is its impact more pronounced than in the effect CRA has had on the production of affordable rental housing through the [Low Income Housing Tax Credit] program.”

LeadingAge will continue to push for the highest possible levels of investment in affordable housing programs serving older adults.