CRA

The Treasury's recommendations come as federal bank regulators have indicated they will soon release a proposal to reform Community Reinvestment Act policy.

Regulators are working intently on a proposal to reform how they apply the Community Reinvestment Act after previous attempts to modernize CRA policy drew mixed reviews.

Regulators said they were taking steps to recognize contributions to the recovery made by banks anywhere in the nation.

Comptroller of the Currency Joseph Otting said in a press conference Wednesday morning that there is a place in the banking world for some kind of fintech charter, though the exact parameters of such a charter are still unclear and have to be worked out.

Clearinghouse CDFI will use funds from the $2 million investment to support affordable-housing and economic development projects in communities and Native American reservations in California, Nevada and Arizona.

Rather than pull up stakes and leave two low-income Mississippi towns at the mercy of payday lenders, Regions Bank donated the branches to a local credit union and kicked in another $500,000 for operating costs.

The Tupelo, Miss., company has recouped its “satisfactory” community reinvestment rating, removing a regulatory obstacle to two pending acquisitions.

The Fed's order noted that Sterling had clarified errors in its Community Reinvestment Act data before receiving a "satisfactory" rating from the OCC.

It is the largest equity investment that Clearinghouse CDFI has received in its two-decade history.

The prospect of a lower corporate rate resulting from looming tax reform discussions may be a blessing for the industry, but it could be bittersweet for one particular group of bankers.

The marketplace lender's application for an industrial bank charter is under fire from small banks and progressives, who say it could violate the barrier between banking and commerce and shut out middle-class and lower-income consumers.

The Federal Housing Finance Agency has added three categories to the list of protected classes under equal opportunity employment and inclusion rules for regulated entities.

Tucked away in the Treasury Department’s regulatory reform report released last month was a nascent effort to reform the way regulators implement the Community Reinvestment Act.

Affordable housing shortages and declining loan volumes are making it difficult for banks to originate enough mortgages to meet their Community Reinvestment Act obligations, which could make filling shortfalls with loans from nonbanks more expensive.

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.

Freddie Mac has priced its first credit-risk transfer securities backed in part by tax-exempt loans used to finance affordable multifamily rental properties.

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.