CRA

The Comptroller of the Currency said the Federal Reserve had disagreements with the metrics of a pending proposal to revamp the Community Reinvestment Act.

The tech giant’s plan to offer checking raises concerns about how it will use customer data; third quarter loan originations were the second most on record.

The three federal bank regulators usually try to issue rules jointly, but Comptroller of the Currency Joseph Otting on Tuesday pointed to areas where the agencies may move on separate paths.

Complaints that banks, credit unions and nonbanks compete on an uneven playing field should be heard, just as community banks must take seriously the threats from high-tech rivals, says Julie Stackhouse, a retiring supervision official at the St. Louis Fed.

The three federal bank regulators often say they want to work together to reform the Community Reinvestment Act. But once again, a senior official has raised the possibility the agencies will move separately.