News Topic: CRA

Concerns about job losses and political blowback still loom, but the two banks made it through a second day of public hearings hosted by the Fed relatively unscathed and with significant local support. ... Read full article

The two banks’ CEOs used a public hearing to argue their merger will be a boon for underserved markets. But other speakers warned that bank consolidation hurts communities. ... Read full article

At a fintech event hosted by the FDIC, the agency’s chief and the head of the OCC offered their views on a wide range of matters. ... Read full article

CariClub crunches employee data to connect young banking professionals with nonprofits on the hunt for junior directors. ... Read full article

In a roundtable discussion, the heads of four banks called on Congress to move on CRA modernization and address the cannabis conundrum, while dismissing arguments that midsize banks need to merge to stay competitive. ... Read full article

Readers respond to this week's big-bank CEO hearing before the House, weigh the debate over Community Reinvestment Act reform, consider whether Wells Fargo needs a new brand and more. ... Read full article

The central bank has failed to appropriately scrutinize deals in recent years, potentially putting the financial system at risk. ... Read full article

Senior officials at the OCC, FDIC and Fed signaled they agree more than they disagree on a plan to modernize the Community Reinvestment Act. ... Read full article

A senior official recently criticized how some groups responded to the OCC’s initial steps to reform the Community Reinvestment Act. It’s a worrying sign that the agency will ignore concerns raised by advocates. ... Read full article

The two banks will each give $15 million to the Foundation for the Carolinas, which supports affordable housing development in Mecklenburg County. ... Read full article

In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies. ... Read full article

The current debate around changes to the Community Reinvestment Act should include discussions about how the law can be used to better support low-income communities in remote areas. ... Read full article

Regional and community banks are working to finance the economic development districts created by the new law. But they have lots of questions about how the program works — and thoughts on how to improve it. ... Read full article

Robust public discussion from a diverse array of stakeholders has informed regulators working to reform the Community Reinvestment Act, but it has also included some misleading claims, writes a top OCC official. ... Read full article

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending. ... Read full article

Recounting her family’s financial struggles, Jelena McWilliams said regulatory policy should address the plight of the underbanked. ... Read full article

The Federal Reserve and Federal Deposit Insurance Corp. will hold two public meetings on BB&T's planned purchase of SunTrust to consider the deal's impact on the U.S. banking system ... Read full article

The 2020 presidential hopeful removed the contentious provision from a previous version of the bill that had won praise from bankers but sparked fierce opposition from credit unions. ... Read full article