Kenneth H. Thomas
PresidentKenneth H. Thomas, Ph.D., president of Miami-based Community Development Fund Advisors LLC, taught finance at the University of Pennsylvania’s Wharton School for over 40 years. He is the author of The CRA Handbook.
Kenneth H. Thomas, Ph.D., president of Miami-based Community Development Fund Advisors LLC, taught finance at the University of Pennsylvania’s Wharton School for over 40 years. He is the author of The CRA Handbook.
The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.
Critics of the Community Reinvestment Act revamp want to freeze the rulemaking process. That would only delay financial help to New York and other hard-hit cities.
A provision of the Community Reinvestment Act overhaul package would rightfully hold lenders more accountable for reinvesting in cities where they are feeding off deposits.
The central bank has a long history of fighting reforms to the Community Reinvestment Act, until now.
The information the Consumer Financial Protection Bureau collects about customer problems can be valuable, but analysts need to move past the headline numbers.
Proposals to modernize the Community Reinvestment Act should be geared toward making concrete improvements, not upending parts of the law that are already working.
PR campaigns won’t be enough to salvage the bank’s reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps.
The Federal Deposit Insurance Corp., BB&T’s primary regulator, has a history of going easy on the bank. The combined entity would be better supervised by the central bank, which already oversees SunTrust.
JPMorgan Chase’s planned expansion into more than a dozen new markets threatens community banks and larger institutions alike.
While there are ways to improve the Community Reinvestment Act for the modern era, steps must be taken to ensure the law is not weakened in the process.