Policy Corner | July 23, 2021

Policy Corner: Reforming CRA, worker power and sustainability standards

The team at


ImpactAlpha, July 23 – “We believe the most durable change will happen at the intersection of government action and private sector partnership,” says Fran Seegull of the U.S. Impact Investing Alliance, which is working with ImpactAlpha to keep Agents of Impact apprised of policy developments. Among this week’s crop:

  • Reforming the Community Reinvestment Act. The Office of the Comptroller of Currency will rescind the Trump-era rule altering the Community Reinvestment Act regulations. The earlier changes were widely criticized by investors, financial institutions and community advocates.
  • Worker power. President Biden’s executive order earlier this month directs more than a dozen agencies to promote competition across labor markets, tech and healthcare industries, banking and consumer finance, and more. On the agenda: a consumer-friendly banking initiative to address racial biases and improve access to credit for underserved communities.
  • Sustainability standards. Organizations including the U.S. Impact Investing Alliance, Ceres and the Impact Investing Institute supported efforts to promote consistent corporate reporting on key sustainability issues. The IFRS Foundation consultation period on the International Sustainability Standards Board proposal closes July 29.