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 bipartisan proposal aims to renew banks' interest in low-income housing tax credits and bring more lower-priced homes to markets that badly need them.
The merging banks, whose new headquarters would be Charlotte, N.C., will each double their charitable giving over the next three years in Atlanta and Winston-Salem, N.C.
Regional and community banks are working to finance the economic development districts created by the new law. But they have lots of questions about how the program works — and thoughts on how to improve it.
Multiple agencies are looking into its purchase of certain credits tied to low-income housing developments, the bank said in a securities filing Friday.
