News Topic: CRA

Minorities are often hit harder financially during a crisis, but if regulators move forward on revamping the Community Reinvestment Act, they’ll only make matters worse. ... Read full article

Lenders and community groups say it's a mistake for the banking agencies to move forward during a national crisis. But Comptroller of the Currency Joseph Otting says updated Community Reinvestment Act rules would speed relief to neighborhoods and ... Read full article

Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed. ... Read full article

The ICBA chief’s plea for a six-month halt to regulations not related to the pandemic followed similar calls by community groups and a key Senate Democrat. ... Read full article

The agencies said banks could receive Community Reinvestment Act credit for activities addressing the virus fallout, and clarified earlier guidance encouraging banks to dip into their capital buffers. ... Read full article

Groups often will oppose mergers on Community Reinvestment Act grounds. But the proposal would tighten standards for when the agency includes “adverse comments” in the process. ... Read full article

Utah bank is expected to launch next year; banks want to hold off regulations that would hamper efforts to keep money flowing during virus crisis. ... Read full article

The OCC and FDIC’s proposal for modernizing the community reinvestment law would give banks below $500 million of assets the option to keep the current regime. But bankers and industry representatives say that threshold should be higher. ... Read full article

The banking regulators have announced that they are postponing next week’s National Interagency Community Reinvestment Conference because of growing health concerns about the virus outbreak. ... Read full article

Comptroller of the Currency Joseph Otting suggested the central bank was adopting a “partisan” stance against his plan to overhaul the Community Reinvestment Act. ... Read full article

While the Democratic debates have had little discussion about financial policy, the remaining presidential contenders have taken noteworthy positions on regulatory relief, antitrust rules and bankruptcy reform, among other issues. Here’s a rundown. ... Read full article

Giving more Community Reinvestment Act credit to such partnerships will help low-income communities, despite industry concerns. ... Read full article

The deal, which could be announced Monday, would push the TurboTax maker into consumer finance; the bank would follow U.S. rival Goldman Sachs into the British market. ... Read full article

In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act. ... Read full article

Compared with incendiary fights elsewhere in the capital, deliberations among the banking agencies tend to be more banal. But on issues from the Volcker Rule to CRA reform, disagreements lately between officials have grown sharper. ... Read full article

Proposed reforms to the Community Reinvestment Act focus on everything but bank products that promote higher education. It’s time to change that. ... Read full article

Federal Reserve Chair Jerome Powell reaffirmed his agency’s skepticism of a Community Reinvestment Act plan proposed by other regulators, and said the Fed has an important role to ensure banks “are resilient against the longer-term risks from climate ... Read full article

Following the State of the Union speech Tuesday, Republican lawmakers hailed the president's economic record while Democrats continued criticism of an administration plan to reform the Community Reinvestment Act. ... Read full article