To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.
The central bank’s refusal to join the OCC and FDIC in revamping the Community Reinvestment Act sends an unmistakable message that their proposal is deeply flawed.
The OCC and FDIC have moved in the right direction by proposing reforms to the Community Reinvestment Act. Now it’s time for the Federal Reserve to join.
Comptroller of the Currency Joseph Otting explains why his agency and the Federal Deposit Insurance Corp. have moved forward with a proposal to change the 42-year-old CRA.
The legislation takes aim at third-party bank service vendors, the backlog of FHA appraisals, rural housing assistance and other issues where there is broad agreement.
Seeking to expand financial services access, tribal officials and some firms want regulators to award Community Reinvestment Act credit to any bank that funds projects in Native American communities.
America's farms have taken on near-record levels of debt in recent years, and commodity prices and trade wars are putting pressure on farm country. That could spell bad news for bankers that lend to them.
