The Office of the Comptroller of the Currency is aiming to rewrite the 1977 Community Reinvestment Act, which is designed to encourage bank lending in low-income areas. Reuters, citing the OCC, reported the government agency is seeking public comment in what would be the first...
The Treasury Department has recommended that U.S. regulators ease up on penalties for banks that fail to adhere to the Community Reinvestment Act (CRA). The CRA, passed in 1977, was enacted to encourage banks to promote financial inclusion by extending mortgages and other types of...
Lending Club and Citi will work together to facilitate up to $150 million in loans to low- and moderate-income borrowers in underserved communities, the alt-lender and bank jointly announced on Tuesday (April 14). Under the deal, Citi will provide capital to fund the loans, which...
October 24, 2023
The Federal Reserve has reportedly finalized a revamp of the Community Reinvestment Act (CRA) rules, which were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods. The updated rules aim to address the challenges posed by the rise of online banking and mobile transactions, shifting the focus from physical branch locations to where banks conduct […]
August 29, 2018
The Office of the Comptroller of the Currency is aiming to rewrite the 1977 Community Reinvestment Act, which is designed to encourage bank lending in low-income areas. Reuters, citing the...
April 04, 2018
The Treasury Department has recommended that U.S. regulators ease up on penalties for banks that fail to adhere to the Community Reinvestment Act (CRA). The CRA, passed in 1977, was...
April 16, 2015
Lending Club and Citi will work together to facilitate up to $150 million in loans to low- and moderate-income borrowers in underserved communities, the alt-lender and bank jointly announced on...
