On October 24, 2023, the federal banking agencies adopted a new CRA regulation that revolutionizes the obligations of banks with assets of $600 million or more. On this episode of Calling All Bank Directors, our guest Ken Thomas, a leading expert in CRA for many years, explains what boards of directors can do to support compliance with the new regulation.

AABD recorded this podcast episode prior to the filing of a lawsuit by various bank trade associations.

Unless the regulation is overturned or withdrawn by the agencies, bank boards and management of banks of $600 million or more will face huge challenges.

Ken is the president and CEO of Community Development Fund Advisors and author of the seminal book on CRA. He taught at Wharton Business School for 42 years and serves on the Board of Directors of a community bank.

Listen to episode 52 below or subscribe wherever you get your podcasts.