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The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight. ... Read full article

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. ... Read full article

It's long past time for the National Credit Union Administration to implement a risk-based capital standard, and the recently approved delay could hurt more than it helps. ... Read full article

The bank announced a $750 billion plan to “focus on climate transition and inclusive growth”; the seven biggest banks have passed three years in a row. ... Read full article

Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, the agency has not filed an enforcement action or sent a Department of Justice referral on a fair-lending violation in two years. ... Read full article

But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition. ... Read full article

The central bank gave the seven banks passing grades on their stress tests but said that they will need to start holding more high-quality capital to guard against a potential economic downturn. ... Read full article

Financial regulators’ statement cautiously encouraging banks to go beyond traditional underwriting in their lending decisions is a big step forward for the use of alternative data and artificial intelligence, bankers say. ... Read full article

Without admitting wrongdoing, the bank has agreed to contribute $10 million to city programs promoting home ownership for low- and moderate-income residents. ... Read full article

As required by last year's reg relief law, the agency is planning to raise the asset threshold for organizations conducting a stress test from $10 billion to $250 billion. ... Read full article

Easy credit has given way to cautiousness, with financial technology upstarts now seeking households with higher incomes, above-average credit scores and less debt relative to their wages. ... Read full article

The startup with a namesake app is already attracting young investors and has been in talks with banks about partnerships. ... 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

While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help. ... Read full article

The lawmakers sent a letter to the comptroller of the currency requesting his appearance before the Senate Banking Committee after he was unable to attend a hearing last week. ... Read full article

John Williams said Friday that the Federal Reserve's three interest rate cuts this year have bolstered the housing market and consumer spending. ... Read full article

Muneera Carr, who will become the San Francisco bank's controller on Jan. 6, is the newest addition to a team being assembled by CEO Charlie Scharf. ... Read full article

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations. ... Read full article