WebMar 1, 2024 · The Community Reinvestment Act of 1977 (CRA) encourages certain insured depository institutions to help meet the credit needs of the communities in which they are chartered, including low- and moderate … WebMay 5, 2024 · On December 14, 2024, the OCC issued a final rule that rescinded the June 2024 rule and replaced it with a rule based largely on the agencies' 1995 CRA rules (as amended). This action realigned the OCC's CRA rule with those of the Federal Reserve Board and FDIC. The interagency proposed rule would, if finalized, replace the current …
Fed plan to reform CRA at odds with OCC rule
WebJan 8, 2024 · As Governor [Lael] Brainard, who is the lead principal over CRA reform at the [Federal Reserve] Board of Governors, has said in many recent remarks, CRA is more important today than ever before, especially in light of COVID-19 and the national discussion around racial injustice. WebIn late spring of 2024, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) proposed the most far-reaching changes to the Community Reinvestment Act (CRA) regulations since 1995. ... CRA reform should encourage lending and investing to innovative small … thinkhdi
FDIC: Banker Resource Center: Community Reinvestment Act (CRA)
WebAug 2, 2024 · NEW YORK – The Federal Reserve Bank of New York's Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit. The Report shows an increase in total household debt in the second quarter of 2024, increasing by $312 billion (2%) to $16.15 trillion. WebApr 14, 2024 · The incentives that drive bank runs have been well understood since the seminal work of Nobel laureates Douglas Diamond and Philip Dybvig (1983). When a bank is suspected to be insolvent, early withdrawers can get the full value of their deposits. If and when the bank runs out of funds, however, the bank cannot pay remaining depositors. As … WebThe Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key … thinkgs to do in savannah this week