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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.
- May 27, 2016On Friday, May 27, 2016, the FDIC released its schedule of Community Reinvestment Act (CRA) examinations to occur during the third quarter of 2016. On Wednesday, June 1, 2016, the OCC also released its third quarter schedule of CRA evaluations. Currently, the FDIC is set to examine 213 banks and the OCC will evaluate 82 banks over the three month period.March 31, 2016On Thursday, March 31, 2016, Comptroller of the Currency Thomas Curry in a speech at Harvard Kennedy School's New Directions in Regulation Seminar released a long anticipated white paper entitled: "Supporting Responsible Innovation in the Federal Banking System: An OCC Perspective." The white paper published the OCC's definition of responsible innovation, which is "[t]he use of new or improved...March 31, 2016The Office of the Comptroller of the Currency's white paper on financial technology innovations was relatively light on details, outlining a series of broad principles it plans to use when examining the sector, but it may be heavy on ambition. The 11-page paper signaled the agency's intent to take a higher-profile role in ensuring that regulators are not inappropriately hampering banks' adoption...March 31, 2016Washington, D.C. (March 31, 2016) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), issued the following statement in response to the OCC’s Thomas J. Curry, Comptroller of the Currency, before the Harvard Kennedy School’s New Directions in Regulation Seminar: “We appreciate the OCC’s engagement on this issue because policies written decades ago do not reflect today’s...March 22, 2016The CFPB issued an interim final rule on Tuesday, March 22, 2016, which broadened the availability of certain special provisions for small creditors operating in rural or underserved areas. The new rule, which takes effect March 31, 2016, implements the Helping Expand Lending Practices in Rural Communities (HELP) Act, which allows more small creditors operating in rural or underserved areas to...March 18, 2016On Friday, March 18, 2016, Comptroller of the Currency Thomas Curry delivered remarks at the National Community Reinvestment Coalition (NCRC) conference where he addressed how national banks and federal savings associations can more effectively serve the credit needs of rural communities, especially those who are economically distressed. During his remarks, Comptroller Curry mentioned changes to...March 4, 2016The FDIC issued, on Wednesday, March 2, 2015, a Financial Institution Letter clarifying its supervisory expectations in existing guidance for the risk-management practices when banks make the decision to discontinue foreclosure proceedings. “The FDIC continues to encourage institutions to avoid unnecessary foreclosures by working constructively with borrowers and considering prudent workout...February 10, 2016Nearly eight years after the financial crisis, instances of misconduct across the spectrum of the industry continue to be reported in the press with troubling frequency. The coverage strikes an uncomfortable contrast with the intensity of effort the industry and the regulators have focused on reforming and remediating the weaknesses the crisis brought to light. Overall, this environment has...February 9, 2016In his remarks at the National Interagency Community Reinvestment Conference on Tuesday, February 9, 2016, Comptroller of the Currency Thomas Curry indicated the OCC will release in the coming months a “Risk Management Guidance for Higher Loan-to-Value Lending in Communities Targeted for Revitalization.” This guidance is in response to concerns about barriers to financing homes and stabilizing...January 12, 2016On Tuesday, January 12, 2016, the CFPB issued a construction loan factsheet providing an overview on how the TILA-RESPA Integrated Disclosure Rule (TRID) applies to these types of loans. At the outset, the Bureau expressly states TRID applies to most construction loans which are secured, closed-end consumer credit transactions. In contrast, open-end loans or those for a commercial purpose lie...