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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.
- 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...
- 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 5, 2017On Thursday, October 5, 2017, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in July 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...October 5, 2017On Thursday, October 5, 2017, the OCC released a list of Community Reinvestment Act (CRA) performance evaluations which became public during the period of September 1, 2017 through September 30, 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,...September 22, 2017On Friday, September 22, 2017, the OCC, the Board of Governors of the Federal Reserve, and the FDIC (the Agencies) issued a press release seeking comment on a proposed rule that would revise their regulations implementing the Community Reinvestment Act (CRA) (12 USC 2901 et seq.). The proposed rule would amend the CRA regulations’ definitions of “home mortgage loan” and “consumer loan” to conform...September 13, 2017On Wednesday, September 13, 2017, the federal bank regulatory agencies issued a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the CFPB to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). In addition, the draft proposal contains technical revisions and would remove obsolete...September 5, 2017On Tuesday, September 5, 2017, the FDIC issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in June 2017.September 1, 2017On Friday, September 1, 2017, the OCC released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of August 1, 2017 through August 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...August 21, 2017On Monday, August 21, 2017, the OCC issued a bulletin providing guidance to spur community revitalization through prudent higher-loan-to-value mortgage lending in targeted areas. This bulletin provides guidance regarding the circumstances under which banks may establish a program to originate certain higher-LTV loans and the OCC’s supervisory considerations regarding such programs. “Banks and...