CRA

Some nominees poised to take their agencies in a new direction appear headed for Senate confirmation while an intraparty squabble has delayed the administration’s choice to lead the Office of the Comptroller of the Currency. Here’s the roster update.

A federal judge denied the Office of the Comptroller of the Currency's motion to have the case thrown out, saying concerns about the agency's rulemaking process to reform the Community Reinvestment Act have merit.

President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen.

The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts.

People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.

With a Democrat set to take the White House in January, the agenda for agencies like the CFPB could undergo a rapid transformation, housing finance reform could be turned on its head and progressive banking ideas that were unthinkable over the past four years could gain traction.

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

A second-term Trump administration would likely continue its deregulatory efforts, focus on Fannie Mae and Freddie Mac's exit from conservatorship, and seek to facilitate fintech participation in the banking system.

The OCC is plowing ahead on plans to modernize the Community Reinvestment Act, but a growing consensus of industry and community voices says now is not the time for a major overhaul.

Banking regulators restored the scandal-plagued bank's score three years after assigning it the lowest possible rating under the Community Reinvestment Act.