CRA

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.

The three federal bank regulators often say they want to work together to reform the Community Reinvestment Act. But once again, a senior official has raised the possibility the agencies will move separately.

Readers react to whether the next presidential debate will discuss banking, how California's financial policies are bleeding into other blue states, suggested reforms to the Community Reinvestment Act and more.