CRA

In 1981, a Louisiana banker sarcastically offered advice to a money market fund chasing deposits in his market, presaging today’s battles over nonbanks encroaching on banks' turf.

The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.

The California Reinvestment Coalition is pressing regulators to reject the $700 million bank merger unless PacWest commits more resources to underserved groups in Southern California.

The OCC recently gave Sterling a "satisfactory" rating and said the New York bank had addressed some concerns by the Fed that had leaked to the public and raised questions about its pending M&A deal.

Readers opine on legacy core systems, the negative messaging around the Troubled Asset Relief Program, Jamie Dimon defending his Trump ties, and more.

The Treasury secretary says the Trump administration doesn't support separating commercial from investment banking; wealthy neighborhoods are designated as low-income, benefitting banks with branches there.

The company also said it believes there are no regulatory obstacles that will derail its planned acquisition of Astoria Financial.

The Federal Reserve is asking Sterling to address deficiencies tied to its collection, verification and reporting of CRA data from 2014 to 2016.

The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio, and it said its "satisfactory" CRA rating had been restored.

Upcoming changes to how banks report mortgage activity to the government will have an undeniable impact on Community Reinvestment Act exams, but regulators have been silent on how they will use the data.

Low scores make it harder for banks to get regulatory OKs to expand, but Wells is in retrenchment mode anyway.

Technology innovation and the level of consumer understanding about fintech options are critical missing pieces of Community Reinvestment Act policy.

Wells Fargo engaged in an "extensive and pervasive pattern" of discriminatory and illegal lending practices for years, the OCC said in slashing a key rating of how the bank serves communities.

With a "needs to improve" rating, Wells Fargo is now subject to a wide range of regulatory restrictions on things like branch openings and M&A.

Community banks, big commercial banks and Wall Street investment houses are finding common ground in small-business loan funds that help Main Street, minimize potential losses on credit extended to young companies and sometimes lead to new business prospects.

The President's budget calls for eliminating the Treasury's Community Development Financial Institution grant program, which often benefits poor and rural consumers in areas that Trump easily carried in the election.

The president's budget calls for eliminating the Treasury's Community Development Financial Institution grant program, which often benefits poor and rural consumers in areas that Trump easily carried in the election.

Bankers and housing advocates say many low-income housing projects simply won't get built if the White House and Congress move to eliminate two federal block grant programs.

Though backward-looking, the exam restricts the company from buying banks or opening branches outside the Northeast.

The Credit Union Development Fund from Lloyds Banking Group is similar to CRA requirements seen at large American banks.