On November 1, New York Governor Kathy Hochul signed legislation expanding the Community Reinvestment Act (CRA) to nonbank mortgage lenders. Many are classifying the latest policy move as a win for consumers who will gain greater access to credit and mortgage financing. However, facing criticism from some market practitioners as to how the rule will be implemented. With this new legislation, New York joins states Illinois and Massachusetts as the industry awaits federal rulemaking on a national scale. The Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency announced July 20 that they would undertake an interagency rulemaking effort to modernize the CRA.