The Consumer Financial Protection Bureau today finalized several changes — many advocated by ABA — that will increase the number of banks able to benefit from the bureau’s small creditor and rural or underserved area exemptions in its mortgage rules.
To help address the pending shortage of rural property appraisers — and the implications for agricultural and commercial credit in rural communities — ABA’s Center for Agricultural and Rural Banking and ABA’s Commercial Real Estate Committee convened a meeting yesterday of key stakeholders from the banking industry, federal government, appraisal industry and others.
The right mix of resources, critical partnerships and creative thinking can spur economic revival in financially battered rural areas.
Rural banks face a number of challenges that are compounded by unnecessary, outdated and excessively burdensome regulations, Comptroller of the Currency Thomas Curry said today at the fourth of five outreach meetings for the decennial Economic Growth and Regulatory Paperwork Reduction Act review.
Senate Banking Committee Chairman Richard Shelby (R-Ala.) today released a draft of a sweeping financial reform bill that would provide regulatory relief for banks of all sizes, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.
ABA today wrote to Congress to urge support of two recently introduced bills. S. 871, introduced by Sens. Dean Heller (R-Nev.), Shelley Moore Capito (R-W.Va.) and Rand Paul (R-Ky.), would establish a process for designating an area rural for purposes of Consumer Financial Protection Bureau exemptions. It is a companion to a bill that the
ABA on Monday welcomed the Consumer Financial Protection Bureau’s proposed changes — many previously advocated by ABA — that will increase the number of banks able to benefit from the bureau’s small creditor and rural or underserved area exemptions in its mortgage rules.