Regulatory reform

Powell unsure on future CRA path if Fed parts with other agencies

12/11/19

The Fed chairman said he has not given up on the central bank agreeing with other regulatory agencies on a plan to modernize the Community Reinvestment Act, but admitted, "I don’t know whether that will be possible or not.”

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FDIC chief pitches brokered deposit rewrite, urges Congress to do more

12/11/19

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.

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Four big questions as CRA proposal nears official release

12/08/19

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.

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FDIC board to vote on CRA reform plan next week

12/06/19

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

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Warren releases plan to overhaul bank merger approval process

12/04/19

Sen. Elizabeth Warren introduced a bill to require CFPB approval for certain bank merger applications in the wake of regulators' approval of a deal between BB&T and SunTrust.

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House Democrats implore regulators to get in sync on CRA

12/04/19

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.

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FDIC's McWilliams 'inclined' to join OCC on CRA but still has concerns

12/03/19

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.

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FDIC asks for feedback on its approach to cost-benefit analysis

12/03/19

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

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CFPB proposes expanding safe harbor in remittance rule

12/03/19

The agency announced changes meant to reduce compliance costs and allow some institutions to provide estimates rather than disclose exact prices for international money transfers.

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9 big items on regulators’ to-do list (including CRA reform)

11/25/19

A proposal to modernize the Community Reinvestment Act could be just a snippet of what regulators try to accomplish as they wrap up 2019.

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