News Topic: CRA

Many of Treasury’s recommendations for modernizing the Community Reinvestment Act would help financial institutions, not low-income communities. ... Read full article

The Senate is expected to pass a bill that would ax controversial guidance on loans at car dealerships; lower tax rate may have skewed year-on-year comparisons. ... Read full article

The rules to comply with the Community Reinvestment Act have become "formulaic and ossified" and must be changed to encourage lending practices the law originally intended to foster, the Fed's top regulator said. ... Read full article

The Office of the Comptroller of the Currency has been leading the charge on revamping the Community Reinvestment Act, but a big unknown is whether the other two regulators charged with carrying out the law are committed to moving ahead as swiftly on a ... Read full article

Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs. ... Read full article

The Treasury Department’s long-awaited report on modernizing the Community Reinvestment Act was heavy on glittering generalities but light on specifics, which explains why the report punted the real job of making needed reforms. ... Read full article

Critics argue that Community Reinvestment Act standards need to be more transparent, but creating more objective measures would require regulators to favor some types of loans over others. ... Read full article

The comptroller said he is looking to capitalize on the industry's strong profits and high capital reserves to reduce costs and lower exam fees next year. ... Read full article

Following its acquisition last November of Capital Bank in North Carolina, First Horizon will fund mortgage and small-business lending in low-income areas of the Southeast and expand its vendor relationships with minority-owned firms. ... Read full article

Bank regulators have not even proposed a plan yet for revamping the Community Reinvestment Act, but stakeholders likely to weigh in on the plan are already establishing battle lines. ... Read full article

Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures. ... Read full article

GSE reform a likely scratch from this year’s to-do list; banks’ difficulties in speaking emoji; reactions to Mick Mulvaney’s plans for the CFPB; and more. ... Read full article

Readers react to Mick Mulvaney’s proposal to restructure the Consumer Financial Protection Agency, opine on Community Reinvestment Act reform ideas, weigh in on emojis in digital banking and more. ... Read full article

Rep. Maxine Waters, D-Calif., questioned Bank of America's decision to discontinue free online checking accounts used by many low-income consumers in light of the bank's recent profits and corporate tax cuts. ... Read full article

The San Francisco Fed chief, an economist, is seen as a complement to Fed chair Powell; the proposal would make it easier for banks to comply with the law. ... Read full article

The financial services industry and community reinvestment advocates both praised the Treasury Department’s recommendations for reforming Community Reinvestment Act enforcement. ... Read full article

The Treasury's recommendations come as federal bank regulators have indicated they will soon release a proposal to reform Community Reinvestment Act policy. ... Read full article

Financial Institutions, the parent of Five Star Bank, was hit with a "needs to improve" rating after a review of its activities from 2011 to 2013. ... Read full article