CRA

Sen. Elizabeth Warren’s proposal to subject bank deals to greater public scrutiny should instead be addressed through reforms to the Community Reinvestment Act.

The proposed changes laid out by banking regulators would clear up confusion about what qualifies for CRA credit within so-called Opportunity Zones. But not all community development advocates are convinced that the changes are for the better.

Banks and public advocacy groups agree that the Community Reinvestment Act needs to change. But is the latest proposal moving in the right direction?

The OCC and FDIC have moved in the right direction by proposing reforms to the Community Reinvestment Act. Now it’s time for the Federal Reserve to join.

While the banking industry has applauded regulators’ effort, community groups say the proposal needs to be reworked or it will hurt those the law was meant to help.

The lawmakers sent a letter to the comptroller of the currency requesting his appearance before the Senate Banking Committee after he was unable to attend a hearing last week.

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.

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

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.