The Federal Reserve is fully participating in an interagency process to revise Community Reinvestment Act regulations, Fed Governor Lael Brainard said today.

On a bonus episode of the ABA Banking Journal Podcast, ABA VP Krista Shonk outlines the process for modernizing Community Reinvestment Act regulations and how bankers can get involved

The Federal Reserve is “very much interested” in moving ahead with the interagency effort to update Community Reinvestment Act regulations, Fed Chairman Jerome Powell said at a press conference today.

Anticipating the potentially devastating effects of Hurricane Florence on the southeastern United States, federal and state financial regulatory agencies today issued a joint statement reminding banks of supervisory expectations related to disaster recovery.

The Consumer Financial Protection Bureau today issued an interpretive rule clarifying several changes to Home Mortgage Disclosure Act regulations made under S. 2155, the bipartisan regulatory reform law.

The OCC yesterday updated its policies and procedures manual to clarify its policy and methodology for determining how evidence of discrimination or illegal credit practices will affect a bank’s Community Reinvestment Act rating.

As federal regulators continue their ongoing effort to update the Community Reinvestment Act regulations, an op-ed penned by ABA President and CEO Rob Nichols in The Hill today advocates for commonsense reforms that would better align the decades-old statute with the modern banking landscape.

The largest credit unions with nationwide growth aspirations should be treated like banks, according to an American Banker op-ed published today, with special focus given to community reinvestment requirements and executive compensation.

While its efforts to modernize Community Reinvestment Act regulations proceed along a separate track, the OCC today issued a bulletin to clarify current OCC policies and processes for assessing banks’ CRA performance.

The OCC is hoping to issue a long-awaited advance notice of proposed rulemaking on the Community Reinvestment Act in the coming weeks, Comptroller of the Currency Joseph Otting said today, and it has been waiting in order to build consensus with other banking agencies.