ABA Applauds Senate Passage of 21st Century ROAD to Housing Act

"ABA applauds today's Senate passage of the 21st Century ROAD to Housing Act, which will expand housing opportunities nationwide while helping to ensure community banks can operate under a more balanced regulatory framework. The legislation includes targeted regulatory and examination relief for smaller institutions, supports the creation of new banks, and fosters stronger partnerships between large banks and community-based financial institutions to better serve local needs. It also broadens banks' capacity to make essential investments-including those tied to Community Reinvestment Act priorities in affordable housing, financial education, and community development-by increasing the Public Welfare Investment cap for the OCC and Federal Reserve.

"We congratulate Senate Banking Committee Chairman Tim Scott and Ranking Member Elizabeth Warren on today's vote and urge the House to move quickly to advance this important legislation."

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $26.1 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.5 trillion in deposits and extend $13.7 trillion in loans.