The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
News & Insights
Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
The OCC, the Federal Reserve Board and the FDIC adopted a new framework for the implementation of the Community Reinvestment Act.
Federal Reserve Board Chair Jerome H. Powell swore in FRB Governor Philip N. Jefferson as Vice Chair, and FRB Governor Lisa D. Cook and Dr. Adriana D. Kugler as Board members.
A foreign banking organization settled charges with the Federal Reserve Board for failing to address known risks associated with a client investor that had an “increasingly concentrated [total return swaps] portfolio.”