McWilliams: FDIC Pursuing Interagency Approach on CRA
The FDIC would like to see a consistent interagency approach to Community Reinvestment Act rules, FDIC Chairman Jelena McWilliams said today during ABA’s Unconventional Convention.
Browsing: CRA modernization
Brainard Highlights CRA Reform Proposals for Minority Banks
Speaking to the National Bankers Association, Federal Reserve Governor Lael Brainard today highlighted four new provisions specific to minority depository institutions in the Fed’s recent Community Reinvestment Act modernization proposal.
Brooks: CRA Benchmarking Proposal Expected by End of Summer
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.
Three Takeaways from CRA Modernization
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.
Otting Announces Departure from OCC; Brooks to Serve as Acting Comptroller
As reported by several media outlets earlier this week, Comptroller of the Currency Joseph Otting today announced that he would step down from office on May 29.
OCC Unilaterally Finalizes Community Reinvestment Act Changes
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.
OCC Seeks Bank-Specific Data to Inform CRA Revamp
Now that the OCC and FDIC have formally issued their proposal to modernize Community Reinvestment Act rules, the OCC is requesting public input and bank-specific data to help determine how the proposal might be revised to achieve CRA’s purpose.
Brainard Floats Fed’s Alternative Ideas on CRA Modernization
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.
ABA, Trade Groups to Agencies: Hold Call Report Changes Pending CRA Modernization, Section 1071
ABA, joined by the Bank Policy Institute, Consumer Bankers Association and the Independent Community Bankers of America, today called on the federal banking agencies to pause any changes in certain Call Report data until the ongoing Community Reinvestment Act regulatory revamp and Dodd-Frank Act Section 1071 rulemaking are completed.
Bonus Podcast: Digging into the Details on CRA Modernization
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.