Join top CRA experts Dr. Ken Thomas, Len Suzio and Dean Stockford for a wide ranging discussion on the Community Reinvestment Act....more
7/31/2025
/ Banking Sector ,
Banks ,
Community Reinvestment Act ,
Compliance ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Insured Depository Institutions ,
Lenders ,
Loans ,
Regulatory Oversight ,
Regulatory Requirements
On June 18, 2025, the CFPB published its 2025 Section 1071 Interim Final Rule. Lenders covered by the 2024 Section 1071 Interim Final Rule should know what the 2025 Rule is changing, how it affects them and what they can and...more
6/26/2025
/ Compliance Dates ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Final Rules ,
Interim Final Rules (IFR) ,
Lenders ,
Mortgage Lenders ,
Mortgages ,
Regulatory Requirements ,
Reporting Requirements ,
Section 1071 ,
Small Business Loans
Banks play a pivotal role in the economic wellbeing of our nation and local communities. Banks do this by being “financial intermediaries” facilitating the flow of funds between savers and borrowers. This obligation is so...more
5/29/2025
/ Affordable Housing ,
Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Disclosure Requirements ,
Fair Lending ,
HMDA ,
Lenders ,
Mortgages ,
Regulatory Requirements
When the new CRA rule was published in late 2023 it contained some very serious flaws that need to be corrected. In fact, some of those flaws are so bad that they left the Trump Administration with only 2 choices,...more
4/4/2025
/ Banks ,
Community Reinvestment Act ,
Credit Ratings ,
Credit Reports ,
Creditors ,
Financial Regulatory Reform ,
Lenders ,
Loans ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Retailers ,
Trump Administration
Readers of this article may think I am referring to Orcas, sometimes known as “killer whales.” But what I am referring to is the new form of Assessment Area in the 2023 CRA Rule. However, the analogy/metaphor may be...more
I’ve written articles critical of the Section 1071 Rule and the CFPB’s implementation of the new rule. For example, the scheduled “applicable dates” for data recording and reporting make no sense at all. As currently...more
9/6/2024
/ Borrowers ,
Community Reinvestment Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discriminatory Lending Practices ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Loans ,
Section 1071 ,
Small Business Loans
The recent Supreme Court ruling that upheld the constitutionality of the Consumer Financial Protection Bureau’s funding resulted in the Bureau announcing the new effective dates for banks to begin collecting their CRA...more
5/31/2024
/ Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Loans ,
Reporting Requirements ,
Section 1071 ,
Small Business
I’ve written at least a dozen articles about the dramatic impact the new CRA is going to have on banks. Until now, only about 1.2% of bank CRA examinations end with a failing grade. But, by the estimates of the regulators, if...more
2/21/2024
/ Banking Examinations ,
Banks ,
Benchmarks ,
Community Development ,
Community Reinvestment Act ,
Consumer Financial Products ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Loans ,
Mortgages