General World News

Banking agencies get deluge of feedback on CRA proposal

Stakeholders on all sides of the issues sounded off on the proposed changes to the federal redlining statute in comments to the banking agencies marshaling the changes.

Some of the nearly 360 comments came in late on Thursday, a day before the deadline imposed by the Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corporation. Those agencies oversee banks, and are tasked with ensuring banks do not redline, by enforcing the Community Reinvestment Act.

In the days before the deadline, trade associations preparing their comments were still “deep in the weeds,” scrambling to get details ⇒

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