In testimony before the House Financial Services Committee, OCC Comptroller Joseph M. Otting defended proposed amendments to the Community Reinvestment Act designed to encourage banks to provide more qualified lending, investment and services.
The OCC and the FDIC proposed amendments to the regulations implementing the Community Reinvestment Act to encourage banks to provide more qualified lending, investment and financial services to underserved communities.
The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The Consumer Financial Protection Bureau reported supervisory observations and exam findings in automobile loan servicing, deposits, mortgage servicing, and remittances between June 2018 and November 2018.
The Office of the Comptroller of the Currency request for comments on how to modernize the Community Reinvestment Act regulatory framework was published in the Federal Register. Comments must be received on or before November 19, 2018.
In a revised Policies and Procedures Manual, the Office of the Comptroller of the Currency clarified how its Community Reinvestment Act evaluation of certain banking organizations is impacted by evidence of discriminatory or other illegal credit practices.
The Federal Reserve Board Division of Consumer and Community Affairs introduced a new publication that is intended to provide industry members with guidance on relevant supervisory issues related to consumer protection.
SIFMA provided comments to the Office of Minority and Women Inclusion ("OMWI"), requesting coordination and uniformity in establishing standards under Dodd-Frank Section 342. Section 342 requires agencies, including the SEC, FDIC, Office of the Comptroller of the Currency, U.S. Treasury Department...
The CFPB published in the Federal Register final amendments to Regulation B and the commentary to the regulation.Click hereto view our original story on the Final Rule. Effective Date : January 18, 2014. Cross-Reference(s) : Dodd-Frank Section 1474 ("Equal Credit Opportunity Act amendment"). View...