News Topic: Jelena McWilliams

Impeachment continues to dominate Congress, but legislation the industry seeks is still pending and the bank regulators have a full agenda. Here are the figures who will drive the policy debate. ... Read full article

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. ... Read full article

The proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds. ... Read full article

In a rare move, the House Financial Services Committee chairwoman will lead a congressional delegation to a public FDIC board meeting as it considers releasing a proposal to rework the Community Reinvestment Act. ... Read full article

The long-awaited proposal by the OCC and FDIC to modernize the Community Reinvestment Act would seek to make grading simpler and more transparent while allowing banks to spread loans and investments across a broader geographic area. ... Read full article

Chairman Jelena McWilliams previewed a proposal to update the agency’s definition of brokered funds, but also suggested steps lawmakers could take to improve the rule’s underlying statute. ... Read full article

The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters. ... Read full article

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers. ... Read full article

The meeting scheduled for Dec. 12 will also include discussion of a proposal on the agency's definition of brokered deposits. ... Read full article

A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit. ... Read full article

Lawmakers blasted an apparent decision by the OCC and FDIC to move forward with a proposal to reform the Community Reinvestment Act without the support of the Fed. ... Read full article

Her comments signaled cooperation between the two agencies on a coming proposal to revamp the Community Reinvestment Act, but she raised questions about CRA assessment areas and developing a single compliance metric. ... Read full article

Alternative data "may improve the speed and accuracy of credit decisions and may help firms evaluate the creditworthiness of consumers," the agencies said. ... Read full article

The agency said it plans to make its cost-benefit process “more structured” and incorporate “a number of analytical practices identified in standard references.” ... Read full article

Profits dipped 7% from a year earlier but banks still earned nearly $60 billion, the agency said in its Quarterly Banking Profile. ... Read full article

The Comptroller of the Currency said the Federal Reserve had disagreements with the metrics of a pending proposal to revamp the Community Reinvestment Act. ... Read full article

The proposal would allow applicants with minor criminal records to work in the banking industry. ... Read full article

After others have hinted the three bank regulators may part ways on a Community Reinvestment Act proposal, Federal Reserve Chairman Jerome Powell told lawmakers a “common answer” is the ideal outcome. ... Read full article