Two groups of businessmen fight for the dollar

Tug-of-War Brews Over CRA Reforms

Banking trade groups say the latest CRA reform will put smaller lenders at a disadvantage. And advocacy groups think it doesn’t go far enough to help correct redlining’s racial legacy.

OCC Drops Trump-Era CRA Reform

The yearslong effort to update the Community Reinvestment Act will continue, this time with the three federal banking regulators working together, a move supported by both banks and community organizations.

Community Groups Watch for Effects of Mergers

The mergers and acquisitions transforming the Massachusetts banking industry this year will also have a significant effect on another group: the community development organizations that partner with banks on affordable housing and lending programs.

OCC to Reconsider CRA Changes

The Biden administration said Tuesday it will repeal changes made by the Trump administration to a law aimed at stopping banks from discriminating against racial minorities and the poor.

Fed Offers its Own CRA Reform Package

Another attempt to overhaul the Community Reinvestment Act moved forward yesterday as the Federal Reserve released its proposal to modernize the legislation that encourages financial institutions to meet community credit needs.

Warren Wades Into CRA Reform Fight

Massachusetts’ senior senator wants the interim head of the Office of the Comptroller of the Currency to rescind his predecessor’s efforts to update the agency’s Community Reinvestment Act regulations.

OCC Head Otting to Step Down Next Week

A day after releasing long-planned updates to the Community Reinvestment Act, Comptroller of the Currency Joseph Otting resigned, effective May 29. The OCC’s first deputy and Chief Operating Officer, Brian Brooks, will become acting comptroller of the currency, the OCC announced Thursday.