News & Analysis as of

Community Reinvestment Act Banking Sector

Orrick, Herrington & Sutcliffe LLP

OCC releases August CRA evaluations for 17 institutions

On September 3, the OCC released its Community Reinvestment Act (CRA) performance evaluations for August. The OCC evaluated 17 entities, including national banks, federal savings associations and insured federal branches of...more

Orrick, Herrington & Sutcliffe LLP

FDIC announces its CRA evaluations since May

On August 5, the FDIC released an updated list of banks evaluated for compliance with the CRA in May, June, July and August. In May, the FDIC disclosed a list of evaluations of 56 banks, of which two were rated “outstanding,”...more

Orrick, Herrington & Sutcliffe LLP

Bank regulators appeal to 5th Circuit to lift district court’s final rule ban

On July 18, the OCC, FDIC, and the Fed (the federal banking agencies or FBAs) submitted a brief requesting that the U.S. Court of Appeals for the Fifth Circuit hold oral argument and reverse the U.S. District Court for the...more

Orrick, Herrington & Sutcliffe LLP

FDIC, Fed, and OCC announce 2024 CRA-eligible distressed and underserved areas

On July 12, the FDIC, Fed, and OCC released a list of distressed or underserved nonmetropolitan middle-income areas eligible for CRA credit. The list identified regions where banks’ revitalization or stabilization activities...more

Orrick, Herrington & Sutcliffe LLP

OCC releases June CRA evaluations for 21 institutions

Recently, the OCC released its Community Reinvestment Act (CRA) performance evaluations for June. The OCC evaluated 21 entities, including national banks, federal savings associations, and insured federal branches of foreign...more

Orrick, Herrington & Sutcliffe LLP

OCC releases May CRA evaluations for 19 institutions

On June 3, the OCC released its Community Reinvestment Act (CRA) performance evaluations for May. The OCC evaluated 19 entities including national banks, federal savings associations, and insured federal branches of foreign...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2024

Headlines 1. Supreme Court Upholds the Constitutionality of the CFPB’s Funding Structure The Supreme Court has ruled that the statutory authorization that allows the CFPB to draw funds from the earnings of the Federal Reserve...more

Nutter McClennen & Fish LLP

Nutter Bank Report: April 2024

The CFPB has issued a policy statement that provides an analytical framework for identifying what constitutes an abusive act or practice under the Consumer Financial Protection Act of 2010 (CFPA). The new guidance published...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - March 2024 - 2

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Orrick, Herrington & Sutcliffe LLP

OCC releases March CRA evaluations for 19 banks

On April 1, the OCC released its Community Reinvestment Act (CRA) performance evaluations for last March. The OCC evaluated 19 national banks, federal savings associations, and insured federal branches of foreign banks with a...more

Kilpatrick

Federal Court Blocks Enforcement of Revised CRA Rules

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A federal district judge in Texas has enjoined federal bank regulators from enforcing the recently overhauled Community Reinvestment Act (“CRA”) rules.  The injunction was issued on the eve of the first effective date under...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2024

The SEC has issued a controversial 886-page final rule imposing climate-related disclosure requirements on publicly traded companies, including banking organizations, which will require them to include certain climate-related...more

GeoDataVision

How to estimate how your performance will look under the new CRA

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Podcast #71 of The Compliance 911 Show discusses how banks can estimate their performance under the new Community Reinvestment Act (CRA) rules. Len highlights bankers' concerns about the increased difficulty in passing the...more

Orrick, Herrington & Sutcliffe LLP

Bank regulators respond to bankers’ motion to enjoin CRA final rule

On March 8, the Fed, OCC, and FDIC (the federal banking agencies, or “FBAs”) submitted a brief opposing the plaintiffs’ motion for a preliminary injunction to stop the CRA final rule from going into effect. As previously...more

Orrick, Herrington & Sutcliffe LLP

FDIC releases March CRA evaluations for 56 banks, three rated as “Needs to Improve”

On March 4, the FDIC released a list of state nonmember banks evaluated for compliance with the Community Reinvestment Act (CRA) for March. The FDIC evaluated 56 banks with four ratings: Outstanding, Satisfactory, Needs to...more

Orrick, Herrington & Sutcliffe LLP

OCC releases February CRA evaluations for 31 banks, one “Needs to Improve”

On March 1, the OCC released its Community Reinvestment Act (CRA) performance evaluations for last February. The OCC evaluated 31 national banks and federal savings associations under four ratings: Outstanding, Satisfactory,...more

GeoDataVision

The Coming Perfect Storm

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Podcast #69, "The Coming Perfect Storm," features a discussion between Dean and Len Suzio about new regulatory challenges for the banking sector. Len highlights the implications of two key regulations: Section 1071 of the...more

Orrick, Herrington & Sutcliffe LLP

Fed’s Bowman speaks on current trends in banking regulation

On February 27, Michelle Bowman, a member of the Federal Reserve Board of Governors, gave a speech reflecting on the state of the broader U.S. economy and banking regulation in Tampa, Florida. Bowman highlighted the need for...more

Orrick, Herrington & Sutcliffe LLP

OCC and FDIC announce their CRA evaluations

On February 2, OCC and the FDIC released their Community Reinvestment Act (CRA) evaluations. The OCC disclosed a list of evaluations of national banks, federal savings associations, and insured federal branches of foreign...more

Orrick, Herrington & Sutcliffe LLP

Trade associations sue OCC, FDIC, and Federal Reserve on their Proposed Rules for the CRA

On February 5, a group of trade, banking, and business associations filed a class-action complaint for injunctive relief against the OCC, Federal Reserve, and FDIC (the Agencies) for their enforcement of the new rulemaking...more

Venable LLP

Chalk Talk: OCC Re-Thinks Business Combinations

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The OCC recently released a proposed rule and policy statement on business combinations involving national banks and federal savings associations (banks), which includes mergers, acquisitions of assets, and assumptions of...more

Whitman Legal Solutions, LLC

Redlining Was Outlawed More than 50 Years Ago – Does It Still Continue?

Recently, my son took an online college course about social justice in the as-built environment. One topic in the class was redlining – a practice that limited the availability of affordable home loans for minorities.   ...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 17: Driving Consumer Access Through Digital Transformation with Nat Hoopes

In this RegFi episode, co-hosts Jerry Buckley and Sasha Leonhardt talk with Nat Hoopes, Head of Public Policy and Regulatory Affairs at Upstart. Nat shares insights into how fintech lending platforms can augment and improve...more

Orrick, Herrington & Sutcliffe LLP

OCC announces CRA bank asset-size threshold adjustments for 2024

On December 26, 2023, the OCC announced revisions to the asset-size thresholds used to define small and intermediate small banks and savings associations under the Community Reinvestment Act (CRA). Effective January 1, 2024,...more

Partridge Snow & Hahn LLP

Recently Modernized Community Reinvestment Act Expected to Increase Investor Demand for Tax Credits

On October 24, 2023, representatives of the Treasury, the Federal Reserve, and the Federal Deposit Insurance Corporation released their final rule with respect to the Community Reinvestment Act (CRA), which is intended to...more

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