Policy & Regulation

The rules to comply with the Community Reinvestment Act have become "formulaic and ossified" and must be changed to encourage lending practices the law originally intended to foster, the Fed's top regulator said.

Sen. Elizabeth Warren is struggling to get data that shows how bad sexual harassment might be on Wall Street.

Lawmakers should not toss out an agency rule aimed at curbing auto dealer markups that adversely impact borrowers of color.

Fed vice chair wants to put stress test scenarios out for comment by banks; C&Is outstanding at record level in March.

The Federal Reserve is considering allowing banks a chance to comment on stress tests before they take them and dropping any qualitative review for the largest banks’ performance, according to Randal Quarles, the central bank’s vice chairman for banking supervision.

The Office of the Comptroller of the Currency has been leading the charge on revamping the Community Reinvestment Act, but a big unknown is whether the other two regulators charged with carrying out the law are committed to moving ahead as swiftly on a reform plan.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

Regulators are working to reform the rule regardless of whether a House provision streamlining authority for it is approved.

Michelle Bowman, a former community banker and now the Kansas banking commissioner, was one of two Federal Reserve Board nominees announced by the White House on Monday. President Trump also nominated Columbia University Richard Clarida as vice chair.

Expanding SBA funding and providing additional Community Reinvestment Act credit could help boost female entrepreneurs.