Tag Archives: Community Reinvestment Act

ABA Issues Policy Recommendations on Fintech

As the Treasury prepares to issue its report on nonbank fintech issues, ABA today released a white paper featuring several fintech policy recommendations that would facilitate innovation both inside and outside of the regulated banking system and promote partnerships between banks and nonbanks.

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Fed’s Brainard Outlines ABA-Favored Ideas for CRA Reform

As the federal banking agencies work together on plans to revise the Community Reinvestment Act regulations and supervisory framework, Federal Reserve Governor Lael Brainard articulated several “outcomes that we will work toward” that align closely with ABA’s advocacy on CRA reform.

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Quarles Lays Out Opportunities for Further Regulatory Tailoring

Testifying before the House Financial Services Committee this morning, Federal Reserve Vice Chairman for Supervision Randal Quarles outlined several ways in which the Fed has already or is in the process of tailoring the post-crisis regulatory framework to promote efficiency, transparency and simplicity.

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Treasury Issues Recommendations for CRA Modernization

As bank regulators work toward modernizing the Community Reinvestment Act -- with an advance notice of proposed rulemaking expected from regulatory agencies in the days ahead -- the Treasury Department today issued a formal memorandum to the agencies highlighting several recommendations for updating and improving administration of the 40-year-old law.

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GAO: CRA Statute Could Be Expanded to Include Credit Unions

The Government Accountability Office last week released a report outlining recommendations to further incentivize financial institutions to provide banking services and small-dollar consumer loans in low- to moderate-income communities, including extending CRA to credit unions.

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