Browsing: Community Reinvestment Act

Compliance

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.

Compliance

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.

Compliance

As part of ABA’s long-term engagement with the Treasury Department and financial regulators on the Community Reinvestment Act, the association today sent a white paper to Treasury with several recommendations for modernizing the regulatory approach to CRA.

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