CRA

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.

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.

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.