Federal agencies update CRA ‘small bank’ definitions
The Federal Reserve and FDIC today announced the asset-size thresholds that will be used to define “small bank” and “intermediate small bank” under Community Reinvestment Act regulations for 2023.
Browsing: Community Reinvestment Act
Survey: Regulatory change remains top concern for banks
Keeping up with changing regulations was the top concern for U.S. financial services firms, according to Wolters Kluwer’s annual Regulatory and Risk Management Indicator survey.
Agencies release 2021 CRA data on small business, community development lending
The federal banking agencies today released 2021 Community Reinvestment Act data on small business, small farm and community development lending.
ABA, trade groups seek extension of CIP comment period
In a letter last week, ABA and five financial industry trade groups asked the Interagency Community Investment Committee to extend the comment period for a review of the effectiveness of federal community investment programs by at least 45 days.
The power of a flexible CRA team: How to roll with the punches while remaining compliant
If you trust your team members to take your CRA program to the next level, chances are you’ll get there.
Bowman raises concerns about proposed CRA changes
A proposed overhaul of Community Reinvestment Act regulations does not adequately account for the costs and benefits of certain provisions in the draft rule, Federal Reserve Governor Michelle Bowman opined during a speech to the Kansas Bankers Association on Saturday.
Trade groups: Proposed CRA changes do not accomplish modernization goals
The American Bankers Association and 51 state banking associations submitted comments today on the banking agencies’ proposed overhaul of the Community Reinvestment Act regulations, saying said that while they support the effort in principle, there were multiple flaws in the proposed rule that ultimately worked against the agencies’ stated goals.
ABA calls for changes to CRA modernization proposal in statement for record
Ahead of a House Financial Services subcommittee hearing on the joint agency proposal to update the Community Reinvestment Act, the American Bankers Association cautioned lawmakers that certain aspects of the proposal are unlikely to accomplish the goals of regulatory modernization.
Agencies update spring rulemaking agendas
The federal regulatory agencies this week announced updates to their spring rulemaking agendas for 2022. Among the CFPB’s priorities are the Dodd-Frank Section 1071 final rule, which is projected for March 2023 and addresses the collection of small business lending data.
Understanding key ESG concepts: a glossary
ESG? Fair access? Transition risk? Sustainable investing? Find out what these and more mean exactly.