Regulation

The plan would increase lending and transparency, the regulators say; the company says the rule unfairly lumps together digital wallets and prepaid cards.

Comptroller of the Currency Joseph Otting explains why his agency and the Federal Deposit Insurance Corp. have moved forward with a proposal to change the 42-year-old CRA.

The National Credit Union Administration board signed off on a controversial budget, and it delayed its risk-based capital rule to buy itself time amid complaints by bankers.

Regulators’ sweeping proposal to reform implementation of the Community Reinvestment Act has drawn strong opinions on both sides.

The regulatory action from the Federal Reserve was one of two U.S. Bank received for its dealings with a payday lender who was later convicted of fraud.

The proposal comes after years of criticism that the current policy stifles innovation and hamstrings banks' ability to raise funds.

The long-awaited proposal by the OCC and FDIC to modernize the Community Reinvestment Act would seek to make grading simpler and more transparent while allowing banks to spread loans and investments across a broader geographic area.

In a rare move, the House Financial Services Committee chairwoman will lead a congressional delegation to a public FDIC board meeting as it considers releasing a proposal to rework the Community Reinvestment Act.

The National Credit Union Administration is widely expected to approve another budget increase during its December board meeting, but that doesn’t mean the industry is happy about it.

The Fed chairman said he has not given up on the central bank agreeing with other regulatory agencies on a plan to modernize the Community Reinvestment Act, but admitted, "I don’t know whether that will be possible or not.”