CRA

The central bank has failed to appropriately scrutinize deals in recent years, potentially putting the financial system at risk.

Senior officials at the OCC, FDIC and Fed signaled they agree more than they disagree on a plan to modernize the Community Reinvestment Act.

A senior official recently criticized how some groups responded to the OCC’s initial steps to reform the Community Reinvestment Act. It’s a worrying sign that the agency will ignore concerns raised by advocates.

The two banks will each give $15 million to the Foundation for the Carolinas, which supports affordable housing development in Mecklenburg County.

In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies.

The current debate around changes to the Community Reinvestment Act should include discussions about how the law can be used to better support low-income communities in remote areas.

The current debate around changes to the Community Reinvestment Act should include discussions about how the law can be used to better support low-income communities in remote areas.

Regional and community banks are working to finance the economic development districts created by the new law. But they have lots of questions about how the program works — and thoughts on how to improve it.

Robust public discussion from a diverse array of stakeholders has informed regulators working to reform the Community Reinvestment Act, but it has also included some misleading claims, writes a top OCC official.

Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.

Revised legislation would exclude credit unions from Community Reinvestment Act requirements, but could make the National Credit Union Administration the de facto enforcer of how CUs meet the needs of underserved markets.

Recounting her family’s financial struggles, Jelena McWilliams said regulatory policy should address the plight of the underbanked.

The Federal Reserve and Federal Deposit Insurance Corp. will hold two public meetings to consider the deal's impact on the U.S. banking system.

The 2020 presidential hopeful removed the contentious provision from a previous version of the bill that had won praise from bankers but sparked fierce opposition from credit unions.

While the OCC has led the charge on modernizing the Community Reinvestment Act, Gov. Lael Brainard gave a rundown of new ideas under discussion — from updating assessment boundaries to a comprehensive community development test.

With the two companies said to be still mulling which charter to seek, the various options each have possible advantages and drawbacks.

Lawmakers on the Senate Banking Committee pushed Federal Reserve Chair Jerome Powell for details about how he plans to review the proposed merger between the two regional banks.

Criticism of the National Credit Union Administration is unwarranted given the myriad of abuses banks commit.

The National Credit Union Administration has become too soft on the industry it is supposed to regulate. A hearing on two board nominees is a chance for Congress to change this.

The company on Monday also announced an initiative to boost economic opportunities for African-Americans that will focus on job training, career-leadership pathways and wealth building.