Proposed CRA update detailed during ‘Ask the Regulators’ webinar May 11

May 6, 2022 FDIC, OCC, The Fed 0

Regulators will discuss their jointly proposed Community Reinvestment Act (CRA) rules update plus answer questions during a public webinar May 11, according to a message Friday from the federal insurer of bank deposits.

The May 11 webinar, slated for 3 p.m. Eastern, will include policy experts from the Federal Deposit Insurance Corp. (FDIC), Federal Reserve, and Office of the Comptroller of the Currency (OCC). The agencies will provide an overview of the May 5 proposal, aimed at strengthening and modernizing regulations implementing the anti-redlining CRA. The FDIC said topics will include assessment areas, qualified activities, evaluation framework, ratings, and data collection and reporting.

Comments are due Aug. 5 on the proposed rule.

Reg lookup: Community Reinvestment Act

Charging $10 million in illegal deposit junk fees charged to drivers, CFPB sues WalMart, fintech

December 23, 2024 0

One of the nation’s largest retailers and a financial technology (fintech) firm were sued Monday for alleged illegal opening of accounts for delivery drivers and the two harvesting more than $10 million in “junk fees,” the federal consumer financial protection [...]
Scheme to illegally steer business to Rocket Mortgage draws CFPB suit

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Rocket Homes and The Jason Mitchel Group were sued by the consumer financial protection agency Monday over allegations of illegal kickbacks for mortgage, title and escrow referrals in violation of the Real Estate Settlement Procedures Act (RESPA) and Regulation X, [...]
Shortcomings in anti-money laundering program prompts cease-and-desist order for BofA

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Violations and unsafe or unsound practices at one of the nation’s largest banks relating to anti-money laundering (AML) rules and sanctions compliance programs has prompted a cease-and-desist order by the regulator of national banks, made public Monday. The Office of [...]
OCC publishes 2025 asset-size thresholds under CRA for small, intermediate banks

December 23, 2024 0

Asset-size thresholds at small and intermediate-sized banks for defining compliance with anti-redlining rules in 2025 were announced Monday by the regulator of national banks. The Office of the Comptroller of the Currency (OCC) said that, starting Jan. 1, a bank [...]

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