CRA

Better incentives to lend and invest in underserved communities are also worthy of consideration, Loretta Mester says, as regulators try to blend the best of the Community Reinvestment Act with new ideas in updating its rules.

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The agency has suggested several steps in its notice on reforming the law that could actually harm, not help, underserved communities.

Analysts say the proposal will hurt more than help, and while it isn't expected to gain traction soon, that could change if Democrats retake the Senate.

Another regulator has already gone out on its own with an advance notice of proposed rulemaking. But, Powell said, "It’s a process and we’re very much interested in pushing forward.”

Sen. Warren proposes a bill that would extend the law to credit unions while stiffening penalties; the Spanish bank taps UBS’s Andrea Orcel.

The senator’s bill to reform the 40-year-old law and expand housing investments could gain clout as Democrats look to pick up congressional seats and she eyes a presidential run.

JPMorgan's chief cautioned against expanded regulation for big companies, arguing that businesses contribute to the economy.

PNC's Todd Barnhart, incoming Consumer Bankers Association chair, says the group is concentrating on the impending process of modernizing the Community Reinvestment Act among other issues that do not require action on Capitol Hill.

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The Consumer Financial Protection Bureau issued an interpretive rule Friday to clarify changes made to the Home Mortgage Disclosure Act that were mandated by President Trump's regulatory relief law.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

The agency is seeking public comment on how to reform the Community Reinvestment Act — a big step forward without the Fed or the FDIC on board.

The Office of the Comptroller of the Currency’s questions for the public to comment on the decades-old law could illuminate a path forward as regulators struggle to agree on an updated policy.

Comptroller of the Currency Joseph Otting writes that the Community Reinvestment Act has not kept pace with changes in banking and needs to be updated.

OCC proposal would broaden the types of loans that would count toward CRA obligations; new law helps parents freeze accounts of minors.

The Office of the Comptroller of the Currency issued more than 30 questions for the public as it begins an effort to modernize the Community Reinvestment Act.

Unilateral approaches to bank regulation are risky, but the OCC's plan to seek public comment independent of the other agencies could help shed light on a CRA debate that is now being waged internally.

The agency says it will act independently of other regulators to release a notice asking for public input on revamping the decades-old law.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.