When autocomplete results are available use up and down arrows to review and enter to select.
The proposed update to Community Reinvestment Act regulations incentivizes banks to support minority depository institutions and community development financial institutions, Acting Comptroller of the Currency Michael Hsu said.
Hsu’s Remarks: Under the proposal, Hsu said, all activities with Treasury-certified CDFIs would automatically be eligible CRA activities. Further, investments, loan participations, and other ventures undertaken by any bank, including by MDIs, in cooperation with other MDIs will receive consideration, he said.
ICBA Response: In a national news release after the proposal was issued last month, ICBA said it is encouraged that the proposal would tailor CRA evaluations and data collection for community banks, though regulators should ensure the plan meets the needs of all community banks and the communities they serve.
Previous News
ICBA continued its new series of blog posts on the collapse of the TerraUSD stablecoin and its broader impact.
ImageJun 10, 2022
With several key community banking policy issues coming up for a vote in the coming days, ICBA is urging community bankers to speak out while it engages lawmakers in Washington.
ImageJun 9, 2022
ICBA and a coalition of 44 state community banking associations urged Congress to include a cannabis banking safe harbor in the America COMPETES Act conference report.
ImageJun 9, 2022
Related News Taxonomy