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.

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 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.”

The banking industry could finally have answers soon on the degree of agreement between regulators reforming the Community Reinvestment Act, how they envision CRA zones of the future and other key matters.

The meeting scheduled for Dec. 12 will also include discussion of a proposal on the agency's definition of brokered deposits.

A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.

Sen. Elizabeth Warren introduced a bill to require CFPB approval for certain bank merger applications in the wake of regulators' approval of a deal between BB&T and SunTrust.

Lawmakers blasted an apparent decision by the OCC and FDIC to move forward with a proposal to reform the Community Reinvestment Act without the support of the Fed.

Her comments signaled cooperation between the two agencies on a coming proposal to revamp the Community Reinvestment Act, but she raised questions about CRA assessment areas and developing a single compliance metric.

These community development-focused banks need tailored regulations to expand their purpose in helping underserved areas.

A proposal to modernize the Community Reinvestment Act could be just a snippet of what regulators try to accomplish as they wrap up 2019.

The Comptroller of the Currency said the Federal Reserve had disagreements with the metrics of a pending proposal to revamp the Community Reinvestment Act.

The FDIC and the Fed have yet to sign on to the plan; this year’s managing director class includes fewer overall, but a higher percentage are women.

The tech giant’s plan to offer checking raises concerns about how it will use customer data; third quarter loan originations were the second most on record.

After others have hinted the three bank regulators may part ways on a Community Reinvestment Act proposal, Federal Reserve Chairman Jerome Powell told lawmakers a “common answer” is the ideal outcome.

The three federal bank regulators usually try to issue rules jointly, but Comptroller of the Currency Joseph Otting on Tuesday pointed to areas where the agencies may move on separate paths.

CIT Group has agreed to lend and invest the money mostly in California as well as in the eight states where Mutual of Omaha Bank has branches.

Complaints that banks, credit unions and nonbanks compete on an uneven playing field should be heard, just as community banks must take seriously the threats from high-tech rivals, says Julie Stackhouse, a retiring supervision official at the St. Louis Fed.

Readers cast doubts on regulatory attempts to jointly revamp the Community Reinvestment Act, react to Democrats berating the CFPB head, an upcoming House hearing with Facebook's CEO and more.