The OCC expects to propose the benchmarking framework it will use to assess Community Reinvestment Act performance within the next four to six weeks, Acting Comptroller of the Currency Brian Brooks said in keynote remarks at ABA’s Risk and Compliance Virtual Conference today.
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Provisions of OCC final rule will make CRA examination more consistent and predictable and have enjoyed widespread support. Other portions of the rule have been met with skepticism, and much work remains for all agencies.
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
The OCC today released a list of 13 interagency frequently asked questions related to the Community Reinvestment Act and the coronavirus pandemic.
The OCC today issued its long-awaited final rule making significant changes to the regulations implementing the Community Reinvestment Act—the first overhaul of the CRA framework in more than three decades.
The OCC and FDIC have taken a “significant step” toward modernizing the Community Reinvestment Act regulations with their recent proposal to update the 30-year old framework, the American Bankers Association and 51 state associations said today
The federal banking agencies announced today that they will give favorable Community Reinvestment Act consideration to banks for retail banking, retail lending and community development activities related to the coronavirus pandemic.
As previewed in a speech earlier this year by Federal Reserve Governor Lael Brainard, the Fed today published new Community Reinvestment Act analytics data tables.
Given their extraordinary and unnecessary tax benefit, large credit unions should be held accountable for meeting the needs of the very communities they were created to serve in the first place.