Included in the rule changes are increased credit for mortgage origination to promote availability of affordable housing in low- and moderate-income areas.
Read More »How the Fed Will Review BB&T, SunTrust Merger
Fed Chair Jerome Powell outlined the steps that the Fed will take to ensure a “thorough and transparent” review of the recent merger during his testimony before the House Financial Services Committee.
Read More »Analyzing Lending Practices Under CRA
Here’s how new data on the lending done by banks and nonbanks to low- and middle-income borrrowers could help the OCC in its proposed rule changes to the CRA.
Read More »Making CRA Work for the Communities
The Office of the Comptroller of Currency is seeking comments on modernizing the regulations of the Community Reinvestment Act to help banks reach out more effectively to low- and middle-income communities.
Read More »Treasury Looks to Simplify the Community Reinvestment Act for Banks
The Treasury recently gave recommendations on regulatory and administrative changes to the CRA. Click through to learn more about how these changes could affect mortgage lending.
Read More »Wells Fargo Settles Suit, Receives CRA Score
Wells Fargo received its Community Reinvestment Act Rating (CRA), in which it received high scores, despite an overall score of "needs improvement." On the same day, the ban announced an agreement in principal to settle a class action lawsuit regarding claims that Wells Fargo opened accounts without the consent of its customers.
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