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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.
- July 27, 2017DINGING CFPB, NOT EASY AS 1-2-3 — The House voted along party lines Tuesday to strike down a landmark rule from the Consumer Financial Protection Bureau, but the real fight begins in the Senate. The debate over the rule, which bars the use of mandatory arbitration clauses in consumer contracts with financial firms, is the first real battle over CFPB in a Republican-controlled Congress, setting...
- July 27, 2017The House voted Tuesday to repeal a controversial new rule from the Consumer Financial Protection Bureau (CFPB) that would have protected consumers’ rights to sue banks in class-action lawsuits. Lawmakers voted 231-190 to repeal the rule using the Congressional Review Act, a law that allows Congress to eliminate regulations within 60 days of their release and bars agencies from issuing similar...
- July 27, 2017Now it’s the Senate’s turn. The House approved resolution on Tuesday leveraging authority provided under the Congressional Review Act (CRA) to stop the Consumer Financial Protection Bureau’s final rule prohibiting the use of class action waivers in arbitration clauses. Despite all House Democrats and one Republican voting against H.J. Res 111, the resolution cleared the chamber by a vote of 231-...
- July 6, 2017On Wednesday, July 5, 2017, the OCC and FDIC released CRA evaluations for over 75 institutions. Of the 59 state nonmember banks the FDIC evaluated, 4 banks (6.7%) received an “Outstanding” rating, 52 banks (88%) received a “Satisfactory” rating, 2 banks (3.3%) received a “Needs to Improve” and 1 bank was in “Substantial Noncompliance”. Of the 25 institutions reviewed by the OCC, 5 banks (20%)...July 2, 2017On Monday, July 2, 2017, OCC report findings indicating trading revenue of U.S. commercial banks and savings associations increased to $7.1 billion in the first quarter 2017, $1.5 billion, or 26 percent, higher than the first quarter a year earlier. In the report, the OCC also noted that trading revenue in the first quarter 2017 grew 18 percent compared with the $6 billion reported in the fourth...June 21, 2017On Wednesday, June 21, 2017, the Board of Governors of the FED, FDIC, and OCC announced the availability of the 2017 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive CRA consideration under the community development definition. Distressed nonmetropolitan middle-income geographies and underserved...June 8, 2017On Thursday, June 8, 2017, the Senate Banking Committee held a hearing entitled: “Fostering Economic Growth: The Role of Financial Institutions in Local Communities.” The hearing was the first of several examining proposals the Committee received to help foster economic growth. In his opening statement, Committee Chairman Mike Crapo (R-ID) noted how community banking has become increasingly...May 31, 2017On Wednesday, May 31, 2017, the OCC announced it will extend the notification timeframe for upcoming CRA evaluations. Beginning with the third quarter notification for 2017, the OCC will post the list of financial institutions in which CRA evaluations are coming due over the next two quarters. This change will allow more time for interested parties to review and provide meaningful comments on a...March 21, 2017On Tuesday, March 21, 2017, the FDIC, OCC, and Federal Reserve published a Joint Report to Congress Economic Growth and Regulatory Paperwork Reduction Act indicating the issues yielding the most comments were capital, appraisals, frequency of safety and soundness exams, the Community Reinvestment Act (CRA), and the Bank Secrecy Act (BSA). Regarding exam frequency, the agencies indicated “support...March 15, 2017Even the more sophisticated data-driven financial services marketers are struggling to figure out how to effectively and efficiently integrate personalization into multichannel customer and prospect marketing strategies. This iteration of the Epsilon 5 & 5 is intended to trigger some contrarian thoughts and challenge your marketing status quo. In this issue, we’ll talk about personalization,...