Community Reinvestment

CBA is an acknowledged industry leader in the areas of Community Reinvestment, affordable lending, and community and economic development. As an association, through the Community Reinvestment Committee, CBA has significant influence in the development of revisions to CRA and amendments to the CRA Q&A, which interprets the regulations. One of CBA’s priorities is to encourage the agencies to maintain CRA as a sustainable business of banking, reflecting the reality of community development.
  • January 23, 2015
    Supreme Court Will Not Review Debit Interchange Case This week the long debate over debit interchange fees came to a conclusion as far as the court system is concerned. The U.S. Supreme Court decided not to disturb a previous court of appeals decision in NACS v. Board of Governors of the Federal Reserve System . The court of appeals had rejected the retailers' efforts to increase further the $6...
  • January 23, 2015
    CFPB, Maryland Take Action on Alleged Mortgage Kickbacks On Thursday, January 22, 2015, the CFPB and the Maryland Attorney General announced a joint action against Wells Fargo and JPMorgan Chase for an alleged illegal marketing-services-kickback scheme involving Genuine Title, a now-defunct title company. The agencies allege that Genuine Title gave the banks' loan officers cash, marketing...
  • January 22, 2015
    Introduction Loan sales can significantly benefit banks and other financial institutions, whether these organizations want to bolster their income by buying portfolios or free themselves up to issue more credit by selling them. However, sellers will need to be familiar with the current compliance environment, which is intricate and constantly evolving. Sales that fail to address and successfully...
  • December 5, 2014
    RATS!!! CBA and AOL Finance Optimism Index Falls 9.4 Points in October The CBA/AOL monthly Finance Optimism Index dropped to -5.3 points in October, erasing gains from September, which saw the Index's highest point to date. Americans' level of optimism declined across all four questions of the Index. The percentage of respondents strongly agreeing they were worried about their current financial...
  • November 14, 2014
    CFPB Hosts Field Hearing on Prepaid Cards; Releases Proposed Rule On Thursday, November 13, 2014, the CFPB, at a field hearing in Wilmington, DE, released its proposed rule on prepaid products. The hearing included opening remarks from CFPB Director Richard Cordray, a panel of consumer and industry representatives, and concluded with a question and answer session with the public. "By bringing...
  • November 10, 2014
    Washington, D.C. (November 10, 2014) – The Consumer Bankers Association today submitted comments to the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Federal Reserve Board regarding the proposed revisions to the Community Reinvestment Act Q&A, the vehicle collectively used by the agencies to interpret regulations. Among other points, the comments...
  • November 10, 2014
    Attn: Robert E. Feldman, Executive Secretary Attention: Comments Federal Deposit Insurance Corporation Robert deV. Frierson, Secretary Board of Governors of the Federal Reserve System (Docket No. OP-1497) Legislative and Regulatory Activities Division Office of the Comptroller of the Currency (Docket ID OCC-2014-0021) Re: Community Reinvestment Act; Interagency Questions and Answers Regarding...
  • October 31, 2014
    Fed OIG Report on CFPB Released The U.S. Federal Reserve's Office of the Inspector General (OIG) released a report this week entitled, "The OIG's List of Major Challenges for the CFPB." The report's findings include: The CFPB still has yet to meet internal goals for the timely issuance of examination reports. The OIG rightly notes delays "...leave supervised institutions uncertain about the CFPB'...
  • October 24, 2014
    The thoughts and prayers of Team CBA are with our Canadian friends during this time of mourning. We stand with them against terrorism and extremism. 2015: The Year of Perfecting the CFPB The upcoming midterm elections and a possible flip of Senate control gives us a fresh opportunity to look at the structure of the CFPB in 2015. I sat down with Marc Hochstein, Editor-in-Chief of American Banker...
  • September 26, 2014
    CBA-AOL Finance Optimism Drops 4 Points from July The CBA-AOL monthly Finance Optimism Index has found Americans' financial optimism decreased to -7.0. This is a month-over-month drop of 4.0 points, bringing the Index to its lowest point in 2014. All four components of the Index, including perception of current and future finances as well as economic and political news, turned slightly more...

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