Democrat members of the Senate Committee on Banking, Housing, and Urban Affairs in an October 9, 2026 letter to leaders at the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) ask for a retraction of proposed changes issued in a joint rulemaking published on August 12, to the implementation of the Community Reinvestment Act (CRA).

The consequences of the changes proposed by OCC and FDIC include, if finalized as proposed, a 60% reduction in the pool of CRA-impacted large banks. Since the CRA drives roughly 80% of equity investments in the Low Income Housing Tax Credit (LIHTC) each year, these changes would erase billions of dollars of potential investment in affordable housing annually, including affordable housing developed for older adults.

The Senators’ letter mirrors concerns expressed about the CRA proposed rule in a letter to the FDIC and the OCC from the steering committee of the ACTION Campaign, on which LeadingAge sits.

The ACTION Campaign is a national grassroots coalition of more than 2,400 organizations and businesses focused on protecting, expanding, and strengthening the LIHTC.

LeadingAge will continue to advocate for the greatest possible resources for affordable housing serving older adults.