Blog: On Community Development, Bank Regulators Are Stuck in 1995 - Americans for Financial Reform

Prudential Banking Regulators Will Rescind 2023 Revisions to CRA Regulations - Weiner Brodsky Kider PC

The OCC, FDIC, and the Federal Reserve announced that they intend to rescind a 2023 final rule which significantly revised the regulations governing the Community Reinvestment Act (CRA). The CRA obliges depository institutions to meet the credit needs of their entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations.  The 2023 amendments to the regulations were intended to provide greater clar…

Blog: On Community Development, Bank Regulators Are Stuck in 1995 - Americans for Financial Reform

Banking has changed a lot since 1977, but CRA regulations have not been meaningfully updated in three decades. In 2023, the banking regulators modernized the old brick and mortar banking rules for the modern era and strengthened CRA performance evaluations. Under new Trump-appointed leadership, regulators are now inexplicably walking away from these improvements. The post Blog: On Community Development, Bank Regulators Are Stuck in 1995 appeared…

The Basel III agreement requires banks and other credit institutions to maintain a sufficient level of equity and liquidity to meet their obligations and absorb unexpected losses.