CRA

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.