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.
Browsing: Community Reinvestment Act
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.
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.
The OCC’s top policy priorities are changing regulations on the Community Reinvestment Act, the Bank Secrecy Act and small-dollar lending, Comptroller of the Currency Joseph Otting said today at ABA’s Government Relations Summit.
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.