Brendan Pedersen

Thomas Pinder held jobs at the Justice Department and FDIC before coming to the American Bankers Association in 2012.

The effort is the first offshoot of Project REACh, which is designed to bring together business leaders, government officials and advocates to help improve financial services options for disadvantaged communities.

The proposed regulation would codify a 2018 pronouncement by regulators that guidance does not carry the force of law.

The industry has enjoyed lower tax rates and regulatory relief during the current administration, but individual donations from the eight largest banks favor the Democratic nominee by more than 4-to-1.

The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.

A 2019 decision by Amy Coney Barrett, then a 7th Circuit judge, cited an earlier Supreme Court ruling suggesting a high bar for plaintiffs to claim harm. But other jurists have favored a less onerous standard.

The agency's May rule modernizing the Community Reinvestment Act had deferred action on establishing numeric metrics for meeting the law's requirements, but acting Comptroller of the Currency Brian Brooks said banks will soon get more clarity in a follow-up proposal.

USAA Federal Savings Bank’s downgrade shows how customer mistreatment stemming from flaws in internal controls can hurt Community Reinvestment Act scores. Some want consumer compliance to carry more weight in the CRA calculus.

House Democrats’ antitrust reform plan intended to rein in companies like Amazon and Google could help level the regulatory playing field between the banking industry and its digital competitors. It could also revive calls to break up financial behemoths.

The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information.

While the two agencies have disagreed on key areas of reforming the Community Reinvestment Act, the acting comptroller of the currency said there is commonality between their two approaches and he has not given up on developing a joint plan.

The proposed best practices would be modeled after federal servicing standards and be used to supervise nonbanks firms subject to state regimes.

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.

Various trade organizations sent letters to a House Financial Services Committee task force saying lawmakers should "actively discharge their oversight prerogatives" as the national bank regulator considers giving licenses to companies that do not accept deposits.

Various trade organizations sent letters to a House Financial Services Committee task force saying lawmakers should "actively discharge their oversight prerogatives" as the national bank regulator considers giving licenses to companies that do not accept deposits.

Employees in the financial industry and public sector are considerably more worried about the risks posed by digital currency than those in the cryptocurrency field, a new survey finds.

The agency reported signs of stress on the credit quality in residential loans serviced by seven large banks as a result of the COVID-19 pandemic.

With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.

The agency issued an interpretive letter on stablecoins two months after permitting institutions to provide wallet services for cryptocurrency holdings.

The central bank's proposal to overhaul the Community Reinvestment Act differs markedly from the OCC's regulation in testing, data collection and other areas.