News & Analysis as of

Community Reinvestment Act Consumer Financial Products

Troutman Pepper Locke

Federal Banking Agencies Propose Rescission of 2023 CRA Final Rule and Reinstatement of 1995 CRA Regulations

Troutman Pepper Locke on

On July 16, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the federal banking agencies) jointly published a proposed rule...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

GeoDataVision

Have Regulators Already “Raised the Bar” for CRA Exams?

GeoDataVision on

When the new 2023 CRA Rule was approved by regulators FDIC Chairman Martin Gruenberg indicated one of the goals was to “raise the bar” for CRA performance ratings. Now that the final 2023 CRA performance ratings are in it...more

GeoDataVision

The new Community Reinvestment Act Omits Critical Types of Credit That Meet Community Needs

GeoDataVision on

Recent news stories explain the criticism of Senator Warren and Congresswoman Waters directed at banks that are litigating the 2023 CRA rule.  But perhaps their frustration should be focused on the regulators who have...more

GeoDataVision

The Killer ORLA Concept in the new CRA Rule

GeoDataVision on

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

GeoDataVision

Section 1071 Rule: The Big Gap Between Small Business Lending and “Covered” Loans

GeoDataVision on

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

Ballard Spahr LLP

Banking Regulators Ask Fifth Circuit to Lift Injunction Blocking CRA Rules

Ballard Spahr LLP on

Federal banking regulators are asking the Fifth Circuit Court of Appeals to lift a Texas court injunction barring implementation of new Community Reinvestment Act (CRA) rules....more

GeoDataVision

How to Minimize Compliance Risk in the Radical New “Modern” Redlining Era

GeoDataVision on

As any bank professional regulatory compliance professional knows redlining is the hottest issue today and has been since Attorney General Merrick Garland announced the “Combatting Redlining Initiative” in October 2021. Since...more

GeoDataVision

Chevron is History. Implications for the 2023 Community Reinvestment Act regulations

GeoDataVision on

When the Supreme Court decided in favor of the plaintiff in Loper Bright Enterprises et al vs. Gina Raimondo it overruled its decision in Chevron v. Natural Resources Defense Council, the so-called “Chevron Decision” which...more

GeoDataVision

“Figures don’t lie” but do regulators figure? Simpson’s Paradox says so

GeoDataVision on

In emails in recent months we've warned bankers about the extremely aggressive enforcement of anti-redlining policies. This is becoming more and more obvious every day as more banks get threatened with referral to the DOJ....more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2024

The CFPB has issued a policy statement that provides an analytical framework for identifying what constitutes an abusive act or practice under the Consumer Financial Protection Act of 2010 (CFPA). The new guidance published...more

Ballard Spahr LLP

Acting Comptroller Hsu Highlights Latest Efforts of OCC in Elevating Financial Fairness

Ballard Spahr LLP on

On April 4, acting Comptroller of the Currency Michael J. Hsu provided his remarks for the second year in a row at the Just Economy Conference hosted by the National Community Reinvestment Coalition. He focused his remarks on...more

Ballard Spahr LLP

FDIC Chairman Gruenberg issues remarks at National Community Reinvestment Coalition on FDIC’s economic inclusion strategy

Ballard Spahr LLP on

FDIC’s Chairman Martin J. Gruenberg recently gave remarks at the National Community Reinvestment Coalition on the FDIC’s economic inclusion strategy.  ...more

GeoDataVision

Will the Regulators Implement a Key CRA Rule Component by Stealth?

GeoDataVision on

Now that a Texas court has issued a temporary injunction delaying the April 1, 2024, scheduled implementation of the new CRA Rule should bankers relax and assume that the new rule’s effective date has been delayed for at...more

Troutman Pepper Locke

Texas Federal Court Grants Preliminary Injunction in Community Reinvestment Act Lawsuit

Troutman Pepper Locke on

On March 29, a Texas federal court granted a preliminary injunction enjoining the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the...more

Ballard Spahr LLP

TX federal court enjoins enforcement of CRA final rules against plaintiffs

Ballard Spahr LLP on

On February 5, 2024, several national and Texas banking and business trade groups (Plaintiffs) filed a lawsuit challenging the final regulations (Final Rules) implementing the Community Reinvestment Act of 1977 (CRA) that...more

GeoDataVision

Postponement of April 1, 2024 “Applicable” Date May Cause More Confusion

GeoDataVision on

The March 21, 2024, announcement that the prudential bank regulators have decided to postpone the scheduled April 1, “applicable” date for the Facility-based assessment areas, the new Public File section and the Public Notice...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2024 # 3

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

GeoDataVision

The Answers to the CRA Questions Everyone is asking: What must we do on April 1?

GeoDataVision on

With April 1, 2024, the effective date for the new CRA rule fast approaching, every bank is asking what must we do on April 1? Here are the answers....more

GeoDataVision

New CRA Retail Lending Test Benchmarks

GeoDataVision on

The Retail Lending Test in the new CRA will measure bank performance against “market” benchmarks (lending activity reported by other lenders) and “community” benchmarks” (community demographics). Many bankers, although not...more

GeoDataVision

2024 Regulatory Hot Topics

GeoDataVision on

Episode 70 of "Compliance 911, show" titled "2024 Regulatory Hot Topics," discusses the major regulatory challenges facing financial institutions in 2024. Hosts Len and Dean mark their 70th episode, reflecting on various...more

GeoDataVision

Assessment Areas Under the New CRA Rule – Estimated Standards to Be Available Soon

GeoDataVision on

There has been much understandable confusion about many aspects of the new CRA rule. But perhaps there’s been no greater confusion and anxiety than about the Assessment Areas. And this anxiety has become more acute the closer...more

GeoDataVision

Changes to 2024 MSAs Have Implications for CRA

GeoDataVision on

In July 2023, the Office of Management & Budget published an update to “Core Based Statistical Areas, Metropolitan Divisions, and Combined Statistical Areas”. That document contains the latest definitions of Metropolitan...more

GeoDataVision

The Potentially Adverse Fair Lending Implications of the New CRA Rule

GeoDataVision on

There has been much understandable handwringing about the new CRA and its complexity as well as the high CRA exam failure rate predicted by regulators based on the new assessment areas and the higher performance standards...more

GeoDataVision

How to Figure Out How the New CRA Affects Your Bank

GeoDataVision on

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

73 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide