CRA

House Democrats vote to reverse CRA rule

06/30/20

While the resolution sends a message of disapproval of the OCC’s reform of the anti-redlining law, the Republican-controlled Senate is not expected to consider the measure.

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Societal upheaval strengthens case to expand CRA to nonbanks: Ludwig

06/22/20

Former Comptroller of the Currency Gene Ludwig says making online lenders, credit unions and other nonbanks comply with the Community Reinvestment Act would be a powerful tool in addressing racial and economic injustices.

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An ‘overwhelming’ moment: Behind BofA’s $1B racial justice commitment

06/18/20

From hiring to health care, Vice Chair Anne Finucane shares details about Bank of America’s pledge to address vital needs in minority communities.

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Banks should offer their own form of reparations

06/16/20

As governments explore whether to compensate African Americans for centuries of racism, financial institutions need to do their part to redress victims of persistent redlining.

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House Democrats launch bid to overturn OCC's CRA rule

06/11/20

The lawmakers are attempting to block the regulation reforming the anti-redlining rule under review powers granted to Congress, but the move is largely symbolic with the Senate and White House controlled by the GOP.

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Here's Congress's chance to help black communities

06/10/20

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

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‘Banks are the infrastructure’: OCC leader on pandemic, recovery, CRA

06/07/20

Acting Comptroller of the Currency Brian Brooks says financial institutions are needed more than ever to “sustain existing businesses” and help entrepreneurs rebuild. Meanwhile, reforming the Community Reinvestment Act, he says, can “unblock opportunities” in minority neighborhoods.

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House passes PPP revisions; on Otting's day of departure, a CRA reflection

05/29/20

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement.

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PPP guidance, Santander's settlement, Wells' virus response: Top stories of the week

05/22/20

The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.

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OCC was right to finalize CRA rule on its own

05/22/20

If the agency hadn’t revised the 1977 law now, nothing would be done for communities in need that are struggling even more in the coronavirus pandemic, writes Faith Bautista, CEO of the National Diversity Coalition.

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