Native American leaders are cheering the proposal, which would give banks Community Reinvestment Act credit for making loans made on reservations, even if the lands sit far outside their assessment areas.
The prospects of a potential Democratic sweep of the 2020 elections could spur regulators to quickly finalize changes to the Community Reinvestment Act.
House Financial Services Committee Chairwoman Maxine Waters announced she will hold two hearings in January to examine a proposal to overhaul the Community Reinvestment Act.
After declining to support the proposal drafted by the OCC and FDIC, the Federal Reserve could issue its own framework or just keep the current CRA regime.
The three federal agencies announced slight adjustments in the cutoffs for "small" and "intermediate small" institutions for the purposes of Community Reinvestment Act exams.
With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020.
