The Office of the Comptroller of the Currency’s questions for the public to comment on the decades-old law could illuminate a path forward as regulators struggle to agree on an updated policy.
Comptroller of the Currency Joseph Otting writes that the Community Reinvestment Act has not kept pace with changes in banking and needs to be updated.
The Office of the Comptroller of the Currency issued more than 30 questions for the public as it begins an effort to modernize the Community Reinvestment Act.
Unilateral approaches to bank regulation are risky, but the OCC's plan to seek public comment independent of the other agencies could help shed light on a CRA debate that is now being waged internally.
The decision, unveiled just hours after the Treasury Department endorsed the charter concept, means some fintech firms could soon be regulated more like banks.
Online lenders and other firms await news from OCC and Treasury on the future of their supervision, even as they absorb the news that Square had to temporarily pull its industry loan company application.
Readers weigh in on inequality in financial services, opine on falling bank reputations, chime in on the evolving role of the chief risk officer and more.
