OCC announces initiative to expand credit access in Los Angeles


The effort is the first offshoot of Project REACh, which is designed to bring together business leaders, government officials and advocates to help improve financial services options for disadvantaged communities.


States entice fintechs by giving them freedom to experiment


Florida and West Virginia recently joined four other states in setting up regulatory sandboxes that allow startups to test products with consumers without obtaining a license.


Does Fed already have the power to tackle racial inequality?


The Federal Reserve could ease capital rules, foster the creation of special-purppose banks and take other steps to strengthen minority communities and businesses without legislation being sought in Congress — if it has the will to do so, experts say.


Fiserv sees existing credit lines as cure for PPP limitations


The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.


The final CRA rule is in. Here’s why it’s better.


Comptroller of the Currency Joseph Otting says the revised Community Reinvestment Act will provide more credit access to communities in need and won't, as some had feared, create new thresholds for grading banks.


Alternative data could be lifeline for consumers needing credit


Congress should pass legislation authorizing use of nontraditional data sources to make credit more available to consumers who’ve taken a hit from the coronavirus pandemic.


Businesses hitting credit lines; Coronavirus could put banks in the red


Corporations have tapped more than $124 billion in lines in the past three weeks; rating agency says virus “could wipe out a full year of U.S. banking profits.”


Fed announces aggressive actions to boost liquidity amid virus turmoil


The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.


Fed again moves to calm markets; Dimon out of hospital


The central bank will inject $1.5 trillion into the money market, including buying more longer-term bonds; JPMorgan says its CEO “is doing very well” as he recovers from heart surgery.


Credit reporting bill passes House but faces long odds in Senate


No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.