The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period.
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 two agencies have delayed the deadline for the public to respond to a request for information on the rating system used to score banks' overall health.
A provision of the Community Reinvestment Act overhaul package would rightfully hold lenders more accountable for reinvesting in cities where they are feeding off deposits.
The Federal Reserve and Federal Deposit Insurance Corp. found issues with the firms' ability to compile data on how they would be unwound during a period of financial stress.
The proposed changes laid out by banking regulators would clear up confusion about what qualifies for CRA credit within so-called Opportunity Zones. But not all community development advocates are convinced that the changes are for the better.
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.
While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help.
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.
