Regulatory reform

10 ways to make investing more inclusive

03/23/21

Free investment education and testing for risk tolerance are among the ways financial firms can better reach underserved consumers, former SEC chief Jay Clayton and Operation HOPE’s John Hope Bryant say.

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House lawmaker proposes new restrictions on credit bureaus

03/11/21

The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.

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Outsider emerges as top contender to lead OCC

03/10/21

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist groups, appears to have the edge.

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FDIC chair hopes regulators will 'come together' on CRA reform: Report

03/08/21

The comments by Federal Deposit Insurance Corp. Chair Jelena McWilliams published in Politico reinforce optimism that the banking agencies could settle years of disagreement about modernizing the Community Reinvestment Act.

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Write banking rules that withstand political winds

03/05/21

Regulations that merely reflect the beliefs of whoever’s in power undoubtedly get unwound by the next round of leaders. Policies will stand the test of time if they are focused on addressing inequalities in the financial system.

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Interagency breakthrough on CRA looks to be in reach

03/01/21

During the Trump era, the bank regulators couldn’t see eye to eye on how to modernize the Community Reinvestment Act. But a looming leadership change atop the Office of the Comptroller of the Currency is boosting optimism that they can harmonize their approaches.

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How Democrats could gain control of FDIC’s agenda

01/29/21

Trump appointee Jelena McWilliams is slated to be the agency's chair until mid-2023. But legal experts say a provision in the FDIC’s bylaws gives Democratic members of the governing board, now in the majority, an opening to reverse earlier rules championed by Republicans.

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