Federal Reserve Governor Lael Brainard, the agency’s point person for the Community Reinvestment Act modernization process, today outlined the Fed’s approach to revising CRA rules and explained why the Fed did not join the notice of proposed rulemaking issued last month by the OCC and the FDIC.
The federal banking agencies today released 2018 Community Reinvestment Act data on small business, small farm and community development lending. The CRA requires banks with more than $1.25 billion in assets to report data in these areas.
In this bonus episode of the ABA Banking Journal Podcast, senior OCC policy official Grovetta Gardineer digs into the details of the OCC and FDIC’s notice of proposed rulemaking on the Community Reinvestment Act.
The OCC and the FDIC today proposed major changes to the regulations implementing the Community Reinvestment Act.
While the Federal Reserve is unlikely to join the highly anticipated notice of proposed rulemaking to revise the Community Investment Act, Fed Vice Chairman for Supervision Randal Quarles today signaled that the final rulemaking could involve all three agencies.
Comptroller of the Currency Joseph Otting is moving forward with issuing a long-awaited notice of proposed rulemaking that would modernize how the agency evaluates banks’ Community Reinvestment Act performance, he said today.
In remarks at a Federal Reserve Bank of San Francisco event today, Fed Governor Lael Brainard discussed the potential implications that climate change could have for financial stability, and the importance of properly pricing in climate change-related risk.
The next-generation root cause analysis to prevent redlining.
The FDIC is updating examiner instructions to help strengthen minority depository institutions, FDIC Chairman Jelena McWilliams said today in Washington.
Acknowledging banks’ innovative efforts to meet the credit needs of residents in distressed communities, the OCC today rescinded 2017 guidance for banks seeking to develop programs to offer home loans with loan-to-value ratios of over 90 percent, known as “higher-LTV” loans.