CDFIs

The Office of the Comptroller of the Currency watered down numeric metrics that some groups blasted and allowed more institutions to opt out of the new regime. But whether the agency has won over any detractors remains to be seen.

Giving more Community Reinvestment Act credit to such partnerships will help low-income communities, despite industry concerns.

Broadway Financial prefers a small balance sheet and loans to real estate investors that offer affordable housing. Capital Corps and its founder, Steven Sugarman, want the bank to expand by making more loans directly to low- and moderate-income borrowers.

Native American leaders are cheering the proposal, which would give banks Community Reinvestment Act credit for making loans made on reservations, even if the lands sit far outside their assessment areas.

The OCC and FDIC have moved in the right direction by proposing reforms to the Community Reinvestment Act. Now it’s time for the Federal Reserve to join.