Banking access gaps persist on Long Island amid proposed CRA changes

Banking access gaps persist on Long Island amid proposed CRA changes

September 24, 2026, Long Island Business News, Banking access gaps persist on Long Island amid proposed CRA changes Under the July 31 proposal, banks with less than $1 billion in assets would be classified as small banks, while institutions with between $1 billion and $10 billion would fall into an intermediate category. Some banks moving into those categories would face less extensive evaluations and reduced data collection or reporting requirements. Federal regulators say the revisions would reduce unnecessary compliance burdens and focus CRA examinations more closely on the law’s core purpose. The National Community Reinvestment Coalition has argued that higher thresholds and reduced evaluation requirements could weaken scrutiny of community development lending, investment and services.