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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.
- November 29, 2017On Wednesday, November 29, 2017, the Fed, OCC, and FDIC issued a final rule revising regulations implementing the Community Reinvestment Act (CRA). The final rule amended the definitions of “home mortgage loan” and “consumer loan” to align with changes to CFPB Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The final rule also amended CRA public file content requirements...November 27, 2017Do your 2018 marketing priorities stack up to your peers? 54% of marketers are focused on cross-sell, deepening relationships, and improving their share-of-wallet according to the Digital Banking Report. Learn how to prepare for next year by downloading EVERFI’s new 38 page guidebook complete with tactical worksheets titled The Ultimate Guide to Financial Marketing Strategy for 2018: An...November 20, 2017On Monday, November 20, 2017, the Federal Reserve, FDIC and OCC announced amendments to their respective Community Reinvestment Act (CRA) regulations. The changes conform to conforming to amendments made by the CFPB to Regulation C, implementing the Home Mortgage Disclosure Act (HMDA). In addition, the final rule contains technical corrections and removes obsolete references to the Neighborhood...November 8, 2017On Wednesday, November 8, 2017, the OCC issued a bulletin on guidance to provide transparency regarding its framework for evaluating certain types of licensing applications when an applicant bank has an overall Community Reinvestment Act (CRA) rating of “Needs to Improve” or “Substantial Noncompliance” (together, less than satisfactory CRA performance rating) or a less than satisfactory CRA...November 3, 2017On Friday, November 03, 2017, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act. The list covers evaluation ratings the FDIC assigned to institutions in August 2017. A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be...November 1, 2017On Wednesday, November 1, 2017, the OCC released a list of Community Reinvestment Act performance evaluations made public during the period of October 1, 2017 through October 31, 2017. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve,...October 20, 2017On Friday, October 20, 2017, the OCC issued a Bank Supervision Policies and Procedures Manual ( PPM 5000-43 ) on Impact of Evidence of Discriminatory or other Illegal Credit Practices on Community Reinvestment Act Ratings. The PPM addresses the considerations the OCC will take to address “compliance downgrades” on CRA performance evaluations in the future. The PPM sets forth two principles that...October 20, 2017October 20, 2017 Legislative and Regulatory Activities Division Office of the Comptroller of the Currency 400 7 th St. SW, Suite 3E-218 Washington, DC 20219 Via electronic submission Re: OCC Community Reinvestment Act Regulations (Docket ID OCC-2017-0008) To Whom It May Concern, The Consumer Bankers Association (“CBA”)  appreciates the opportunity to respond to the Office of the Comptroller of...October 20, 2017Washington, D.C. – The Consumer Bankers Association (CBA) today submitted comments to the Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation on proposed rulemaking to amend the Community Reinvestment Act (CRA). The proposal would require financial institutions to combine home equity lending data with home mortgage lending data when reporting...October 20, 2017Cordray, Noreika Arbitration Spat Heats Up CFPB Director Richard Cordray and Acting OCC Comptroller Keith Noreika continue to publicly air their disagreements over the merits of the CFPB’s arbitration rule. Recently, both agency heads published dueling op-eds in The Hill challenging each other’s views of the rule. This week, the debate continued to escalate as both challenged the validity of the...