CRA

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.

The author responds to critics who say the national movement to move money from big banks to black-owned institutions may not be fueling many loans to minorities and residents of low- to moderate-income communities.

Banks have started reconsidering how much they are willing to pay for low-income housing tax credits.