Welcome from Orlando and day two of the annual ABA Regulatory Compliance Conference. It was a jammed packed day of listening and learning from boots on the ground peers. My focus today was on a variety of topics; from CRA modernization, Patty Joyner’s take on today’s hybrid work environments, UDAAP, and the evolution of risk framework. It was hard to choose what sessions to attend. There were so many great topics to choose from. However, […]
Tag: CRA
Day 1 – ABA RCC
Welcome from Orlando and the 2022 ABA Compliance Conference. It was a great first day of sessions. All the sessions I attended today were informative and the speakers insightful. I wanted to take time to focus on the three key things I took away from the “Fair Banking/Fair Lending: Preparing for the 1071 Implementation” panel. The panel for this session included a great group: Kitty Ryan, Britt Faircloth, and Maureen Carollo. Do not expect […]
INTERAGENCY CRA PROPOSAL PUBLISHED
On May 5, 2022, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the agencies) jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The 629-page proposal is intended to: Expand access to credit, investment, and basic banking services in low- and moderate-income communities. Under the proposal, the agencies would evaluate bank performance across the varied activities […]
OCC PUBLISHES FAQS ON RESCINDED CRA RULE
On February 22, 2022, the Comptroller of the Currency (OCC) issued OCC Bulletin 2022-4 that provides responses to frequently asked questions (FAQ) about the December 2021 final rule to rescind the OCC’s Community Reinvestment Act (CRA) rule issued on June 5, 2020 (June 2020 CRA rule). The December 2021 CRA final rule, effective January 1, 2022, replaced the June 2020 CRA rule with provisions largely based on the rules adopted jointly by the OCC, the Board of […]
FDIC STATEMENT OF 2022 PRIORITIES
On February 7, 2022, FDIC Acting Chairman Martin J. Gruenberg released a statement of the FDIC’s priorities for the coming year. Among other items, the list includes: Strengthen Community Reinvestment Act (CRA): The federal banking agencies – the Federal Reserve, the Comptroller of the Currency, and the FDIC – have been working on a major revision of the rule implementing CRA. CRA requires banks to meet the credit needs of all the communities they serve, including […]