Dr. Thomas is the nation's leading expert and author on the Community Reinvestment Act, or CRA. He has a Ph.D. in business and applied economics and an M.A. in finance from The Wharton School as well as an MBA from the University of Miami and a B.S.B.A. (High Honors) from the University of Florida. Dr. Thomas taught banking and monetary economics at The Wharton School of the University of Pennsylvania for 42 years. He is also a 20-plus year member of the board of directors and chairman of the nominating/corporate governance committee of a community bank. As chairman of the board of trustees and co-founder/founder of two CRA qualified investment impact bond funds since 1999, he has facilitated the deployment of several billions of dollars of community development investments in disadvantaged communities. Dr. Thomas was a recipient of one of the first three awards of excellence from the National Community Reinvestment Coalition, or NCRC, in 1994, the other two awarded to Representative Joe Kennedy and Comptroller of the Currency Eugene Ludwig. As a consultant to both the private and federal sectors, his thought leadership is reflected in today's existing CRA regulations.
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The agency is seeking public comment on how to reform the Community Reinvestment Act — a big step forward without the Fed or the FDIC on board.
August 31
K.H. Thomas Associates -
An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.
August 24K.H. Thomas Associates -
There’s renewed focus on the relative importance that capital and liquidity should play in regulation, but the discussion misses another measure that should rank higher in bank evaluations.
May 31K.H. Thomas Associates -
The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms.
April 12K.H. Thomas Associates -
San Francisco Fed President John Williams is not suited to lead the most important of the regional Fed banks, given his inability to detect the phony-accounts problems at Wells Fargo. He also lacks Wall Street experience.
March 28K.H. Thomas Associates -
Reform of the Community Reinvestment Act should seek to establish a minimum standard for the volume of CRA activities a bank must complete in its assessment area.
November 30K.H. Thomas Associates -
Contrary to the view of some, technology has not rendered the Community Reinvestment Act obsolete. But everyone seems to agree that it should be reformed.
August 22K.H. Thomas Associates -
Without incentives to shoot higher, banks usually settle for "Satisfactory" on their Community Reinvestment Act exams, but many find that not getting a better grade has consequences.
September 8K.H. Thomas Associates -
What was true in the late 1700s, the 1970s and the 1980s is still true today: bank customers want to interact with real-life people when managing finances.
August 2K.H. Thomas Associates
