CRA

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.

A top regulator has signaled that the banking agencies are receptive to extending the comment deadline, after banks raised concerns about a proposed revision to the ban on proprietary trading.

Enforcement actions are on the rise despite recent rollbacks of regulations. Fair lending, money laundering compliance and CRA remain focal points for examiners.

The Community Reinvestment Act can lower — not increase — bank credit availability in some low-income regions, and the OCC should reconsider holding fintechs to the same standards with its new charter.

Readers respond to how the industry is donating ahead of the midterms, weigh in on a push to apply CRA-like standards to fintechs, react to a controversial decision by a California court and more.

The Community Reinvestment Act can lower — not increase — bank credit availability in some low-income regions, and the OCC should reconsider holding fintechs to the same standards with its new charter.

Lending to problematic or serial evictors can cause people to be pushed out of their homes in the name of profits. Banks must adopt standards against this practice.