The Treasury secretary says the Trump administration doesn't support separating commercial from investment banking; wealthy neighborhoods are designated as low-income, benefitting banks with branches there.
The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio while saying its "satisfactory" CRA rating had been restored.
Upcoming changes to how banks report mortgage activity to the government will have an undeniable impact on Community Reinvestment Act exams, but regulators have been silent on how they will use the data.
Wells Fargo engaged in an "extensive and pervasive pattern" of discriminatory and illegal lending practices for years, the OCC said in slashing a key rating of how the bank serves communities.
