WASHINGTON - Industry representatives cheered a proposal that would let national banks keep profits generated from community development investments.

National banks must now reinvest these profits in other public welfare projects. The Office of the Comptroller of the Currency has proposed dropping the reinvestment requirement, saying that it may reduce banks' operating income.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.