CRA REPORTING: Proposal by the Federal Financial Institutions Examination Council to resolve lingering questions over whether small- business loan refinancings and renewals must be reported under the Community Reinvestment Act. One option would count both renewals and refinancings, while the other would include neither. Published May 4 in the Federal Register. Comments due July 2.
CU CAPITAL: Proposal by the National Credit Union Administration to create a prompt corrective action system for undercapitalized credit unions. To be considered well capitalized, a credit union would need a net worth of 7% of assets. New credit unions would be evaluated under a separate structure. The proposal was approved May 3. Comments are due 90 days after publication.