CRA

USAA's OCC fine, Citi mum on risk rehab, no digital bank for PNC: Top stories of the week

10/16/20

USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

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OCC's Brooks sees 'overlap' with Fed on CRA

10/01/20

While the two agencies have disagreed on key areas of reforming the Community Reinvestment Act, the acting comptroller of the currency said there is commonality between their two approaches and he has not given up on developing a joint plan.

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Fed CRA plan seen as bridging divide with OCC

10/01/20

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.

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New PPP angst, forbearance balloon payments, Scharf backlash: Top stories of the week

09/25/20

Waiting for the SBA to sign off on PPP loan forgiveness; banks criticized for requiring balloon payments on loans in forbearance; how backlash over Scharf remarks affects Wells Fargo’s diversity push; and more from this week’s most-read stories.

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Fed plan to reform CRA at odds with OCC rule

09/21/20

The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas.

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Trump vs. Biden: What’s at stake for banks

09/17/20

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

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Fed to pitch CRA revamp of its own as regulators chart different paths

09/17/20

The Federal Reserve Board will discuss an advance notice of proposed rulemaking on the Community Reinvestment Act at an open meeting. The central bank had previously declined to support an OCC rule overhauling the 1977 law.

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Morgan Stanley pledges $15B help low-income communities

09/11/20

The four-year plan submitted as part of its acquisition of E-Trade includes grants to community development organizations and support for uniform vendor diversity standards.

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BofA details investments to help Black- and Hispanic-owned businesses

09/08/20

Bank of America announced how it plans to spend a third of its $1 billion commitment to address racial and economic inequities and the effects of the coronavirus pandemic in communities of color.

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It's time to tie banks' business models to customer well-being

09/02/20

A three-stage plan combining data analysis, public disclosure and market-based regulatory intervention would better align financial services with what consumers really need.

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