Compliance

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and small businesses.

The regulator formally announced the 60-day delay on Monday after tweeting about it over the weekend.

The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.

If the new accounting standard poses too many risks during an economic crisis, then it's probably not a good idea at all.

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection.