Post-Election Outlook for Financial Regulatory Agencies: The Consumer...
The transition to a new administration with the election of Republican Donald J. Trump as President, along with continued Republican control of the Senate and House of Representatives, promises to...
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House Freedom Caucus Takes Aim at Financial Regulations
On December 14, 2016, House Freedom Caucus Chairman Mark Meadows released a special report (the “Report”) detailing over 200 rules, regulations, and executive orders the Caucus recommends that...
View ArticleSeventh Circuit Holds Open a Narrow Path for Challenging Bank Supervisory...
The U.S. Court of Appeals for the Seventh Circuit recently issued a rare decision on a bank’s ability to challenge its supervisory ratings—in this case, its Federal Deposit Insurance Company (“FDIC”)...
View ArticlePresident Trump Signs First Congressional Review Act Disapproval Resolution...
On February 14, 2017, President Donald Trump signed a resolution nullifying a Securities and Exchange Commission (“SEC”) regulation that required energy companies to disclose foreign payments. This...
View ArticleOCC Issues Guidance on CRA Ratings Downgrades for Consumer Compliance Violations
On October 12, 2017, the Office of the Comptroller of the Currency (“OCC”) issued a Policies and Procedures Manual (“PPM”) outlining the framework to be used by examiners to determine whether an...
View ArticleTreasury Releases Recommendations to Reform CRA Framework
On April 3, 2018, the Department of the Treasury (“Treasury”) released its much-anticipated recommendations to reform the Community Reinvestment Act (“CRA”). The report, which is addressed to the...
View ArticleOCC Releases Advanced Notice of Proposed Rulemaking Regarding CRA Framework
On August 28, 2018, the Office of the Comptroller of the Currency (“OCC”) released an advanced notice of proposed rulemaking (“ANPR”) inviting comments on a revised Community Reinvestment Act (“CRA”)...
View ArticleFDIC Chairman McWilliams Speaks at Community Development Bankers Association...
On June 4, 2019, Jelena McWilliams, the Chairman of the Federal Deposit Insurance Corporation (“FDIC”), addressed the Community Development Bankers Association. Her remarks emphasized the importance of...
View ArticleAgency Heads Speak on CRA Reform
In the past few weeks, both Federal Deposit Insurance Corporation (“FDIC”) Chairman Jelena McWilliams and Comptroller of the Currency Joseph Otting have spoken publicly about ongoing efforts by their...
View ArticleFDIC and OCC Propose Major Overhaul of Community Reinvestment Act Regulations
On December 12, 2019, the Office of the Comptroller of the Currency (the “OCC”) and the Federal Deposit Insurance Corporation (the “FDIC”) released a notice of proposed rulemaking to overhaul the...
View ArticleFRB Governor Brainard Discusses Path Forward on Community Reinvestment Act...
On January 8, 2020, Federal Reserve Board (“FRB”) Governor Lael Brainard delivered remarks on the state of Community Reinvestment Act (“CRA”) reform before an audience at the Urban Institute. As we...
View ArticleOCC Issues Final Rule Revising Community Reinvestment Act Regulations
On May 20, 2020, the Office of the Comptroller of the Currency (the “OCC”) issued a final rule overhauling its regulations implementing the Community Reinvestment Act (the “CRA”). The CRA, enacted in...
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