Regulation

The benefits include improved financial inclusion, the chairman of the NCUA argues.

The benefits include improved financial inclusion, the chairman of the NCUA argues.

Federal Reserve Chair Jerome Powell said he was “comfortable” with a recent speech by Gov. Lael Brainard objecting to significant aspects of the Community Reinvestment Act plan proposed by the OCC and FDIC.

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

Criminals are filling the void left by lax U.S. regulation of cryptocurrencies.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

The group, which serves community development credit unions, filed a brief suggesting that changing the bureau to a bipartisan commission could have an adverse impact on smaller institutions.

Comptroller of the Currency Joseph Otting upset some House Democrats when he was a no-show at a previous oversight hearing. They will now get a chance to question him about the future of the Community Reinvestment Act.

The recent Dodd-Frank rollbacks for smaller banks could encourage risk-taking that leads to a systemic issue.