CRA

‘Banks are the infrastructure’: OCC leader on pandemic, recovery, CRA

06/07/20

Acting Comptroller of the Currency Brian Brooks says financial institutions are needed more than ever to “sustain existing businesses” and help entrepreneurs rebuild. Meanwhile, reforming the Community Reinvestment Act, he says, can “unblock opportunities” in minority neighborhoods.

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House passes PPP revisions; on Otting's day of departure, a CRA reflection

05/29/20

The bill, which now goes to the Senate, would give small businesses greater flexibility in how they use the funds; not everyone's on board with Otting's signature achievement.

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PPP guidance, Santander's settlement, Wells' virus response: Top stories of the week

05/22/20

The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories.

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OCC was right to finalize CRA rule on its own

05/22/20

If the agency hadn’t revised the 1977 law now, nothing would be done for communities in need that are struggling even more in the coronavirus pandemic, writes Faith Bautista, CEO of the National Diversity Coalition.

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Should banks fear a blue wave in November?

05/21/20

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.

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Community groups plan to sue OCC over CRA rule

05/21/20

The National Community Reinvestment Coalition, California Reinvestment Coalition and Democracy Forward accuse the agency of “unlawfully gutting” the historic anti-redlining law.

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Brian Brooks will become acting comptroller of the currency

05/21/20

Joseph Otting will step down May 29 as head of the OCC and turn the reins over to Brooks, a former financial services industry executive who worked with Otting at OneWest.

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Fannie, Freddie capital goals raised; credit card, auto loans eroding

05/21/20

The FHFA says the two government-sponsored enterprises need at least $240 billion of capital before they can go private; Transunion says more than 3% of consumer loans it tracks are in financial hardship.

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Otting's legacy at OCC? It's complicated

05/20/20

The comptroller of the currency, expected to step down Thursday after two and a half years on the job, ruffled feathers and won some fans in pushing through CRA reform, cutting costs and trying to reshape the agency’s examiner culture.

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Where OCC bent and where it held firm in final CRA rule

05/20/20

The Office of the Comptroller of the Currency watered down numeric metrics that some groups blasted and allowed more institutions to opt out of the new regime. But whether the agency has won over any detractors remains to be seen.

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