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Beware the Fed’s heavy hand in proposed CRA reforms

Beware the Fed’s heavy hand in proposed CRA reforms

Beware the Fed’s heavy hand in proposed CRA reforms
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Beware the Fed’s heavy hand in proposed CRA reforms
Beware the Fed’s heavy hand in proposed CRA reforms
Beware the Fed’s heavy hand in proposed CRA reforms
Beware the Fed’s heavy hand in proposed CRA reforms
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
The central bank has a long history of diluting the effectiveness of the Community Reinvestment Act.
Blow up the Community Reinvestment Act and start from scratch
Blow up the Community Reinvestment Act and start from scratch
Blow up the Community Reinvestment Act and start from scratch
Blow up the Community Reinvestment Act and start from scratch
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
The Community Reinvestment Act was enacted in 1977 “to address inequities in access to credit for low- and moderate-income individuals and communities.” The law should be repealed and replaced. Like hanging a crystal chandelier in a lean-to shack, any efforts to revise the law are a waste of time. This especially includes efforts proposed by the Federal Reserve Board “to strengthen the achievement of the core purpose of the statute, and to adapt to changes in the banking industry, includi...
The Community Reinvestment Act was enacted in 1977 “to address inequities in access to credit for low- and moderate-income individuals and communities.” The law should be repealed and replaced. Like hanging a crystal chandelier in a lean-to shack, any efforts to revise the law are a waste of time. This especially includes efforts proposed by the Federal Reserve Board “to strengthen the achievement of the core purpose of the statute, and to adapt to changes in the banking industry, includi...
Ready or not, CRA modernization is at the door
Ready or not, CRA modernization is at the door
Ready or not, CRA modernization is at the door
Ready or not, CRA modernization is at the door
housingwire housingwire | 1 year ago
Banks could receive many more failing grades from regulators under a proposed overhaul of the Community Reinvestment Act (CRA) The post Ready or not, CRA modernization is at the door appeared first on HousingWire.
Banks could receive many more failing grades from regulators under a proposed overhaul of the Community Reinvestment Act (CRA) The post Ready or not, CRA modernization is at the door appeared first on HousingWire.
Regulators aligned on “once in a generation” CRA rewrite
Regulators aligned on “once in a generation” CRA rewrite
Regulators aligned on “once in a generation” CRA rewrite
Regulators aligned on “once in a generation” CRA rewrite
housingwire housingwire | 1 year ago
Top officials of the OCC, Treasury and FDIC appeared together at an in-person event on Friday, and they were aligned on the biggest revision to the Community Reinvestment Act in decades. But some say the revision represents a "missed opportunity." The post Regulators aligned on “once in a generation” CRA rewrite appeared first on HousingWire.
Top officials of the OCC, Treasury and FDIC appeared together at an in-person event on Friday, and they were aligned on the biggest revision to the Community Reinvestment Act in decades. But some say the revision represents a "missed opportunity." The post Regulators aligned on “once in a generation” CRA rewrite appeared first on HousingWire.
Three keys to successful CRA reform
Three keys to successful CRA reform
Three keys to successful CRA reform
Three keys to successful CRA reform
In-depth analysis, data and st... In-depth analysis, d... | 1 year ago
The Community Reinvestment Act is about to undergo its first significant modification since 1995. A notice of proposed rulemaking was recently issued by the three federal agencies responsible for CRA enforcement — the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp. and the Federal Reserve. Here are three issues that should be addressed in the new rule. Some of these issues have been noted and emphasized by some observers. Others have been virtually ignored. But ...
The Community Reinvestment Act is about to undergo its first significant modification since 1995. A notice of proposed rulemaking was recently issued by the three federal agencies responsible for CRA enforcement — the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp. and the Federal Reserve. Here are three issues that should be addressed in the new rule. Some of these issues have been noted and emphasized by some observers. Others have been virtually ignored. But ...
Banking agencies get deluge of feedback on CRA proposal
Banking agencies get deluge of feedback on CRA proposal
Banking agencies get deluge of feedback on CRA proposal
Banking agencies get deluge of feedback on CRA proposal
housingwire housingwire | 1 year ago
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. Here's a breakdown of their comments. The post Banking agencies get deluge of feedback on CRA proposal appeared first on HousingWire.
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. Here's a breakdown of their comments. The post Banking agencies get deluge of feedback on CRA proposal appeared first on HousingWire.
Opinion: CRA doesn’t work for banks or IMBs
Opinion: CRA doesn’t work for banks or IMBs
Opinion: CRA doesn’t work for banks or IMBs
Opinion: CRA doesn’t work for banks or IMBs
housingwire housingwire | 1 year ago
An honest assessment of CRA is that it has not been effective when it comes to bank mortgage lending. So why would we extend it to IMBs? The post Opinion: CRA doesn’t work for banks or IMBs appeared first on HousingWire.
An honest assessment of CRA is that it has not been effective when it comes to bank mortgage lending. So why would we extend it to IMBs? The post Opinion: CRA doesn’t work for banks or IMBs appeared first on HousingWire.
Federal Reserve approves interest rate hike of half a percentage point
Federal Reserve approves interest rate hike of half a percentage point
Federal Reserve approves interest rate hike of half a percentage point
Federal Reserve approves interest rate hike of half a percentage point
housingwire housingwire | 1 year ago
The Federal Reserve Wednesday approved a 50 basis point increase to its policy interest rate in an effort to reduce inflation. The post Federal Reserve approves interest rate hike of half a percentage point appeared first on HousingWire.
The Federal Reserve Wednesday approved a 50 basis point increase to its policy interest rate in an effort to reduce inflation. The post Federal Reserve approves interest rate hike of half a percentage point appeared first on HousingWire.
Is the U.S. Federal Reserve Trying To Bludgeon the Housing Market?
Is the U.S. Federal Reserve Trying To Bludgeon the Housing Market?
Is the U.S. Federal Reserve Trying To Bludgeon the Housing Market?
Is the U.S. Federal Reserve Trying To Bludgeon the Housing Market?
www.realtor.com www.realtor.com | 1 year ago
The housing market has been on fire for the past two years as home prices shot up into the stratosphere. Now the U.S. Federal Reserve is trying to bring them back down to Earth, part of its avowed war against the nation’s runaway inflation. But it’s using a move that could inflict even more pain on struggling homebuyers. The Fed hiked its short-term interest rates by three-quarters of a percentage point on Wednesday as it continued its war against surging inflation. This is expected to push ...
The housing market has been on fire for the past two years as home prices shot up into the stratosphere. Now the U.S. Federal Reserve is trying to bring them back down to Earth, part of its avowed war against the nation’s runaway inflation. But it’s using a move that could inflict even more pain on struggling homebuyers. The Fed hiked its short-term interest rates by three-quarters of a percentage point on Wednesday as it continued its war against surging inflation. This is expected to push ...
Federal Reserve report signals slowing construction demand
Federal Reserve report signals slowing construction demand
Federal Reserve report signals slowing construction demand
Federal Reserve report signals slowing construction demand
constructiondive constructiondive | 1 year ago
Dive Brief: Some construction activity has begun to slow in various regions around the country as commodity pricing, building permit applications and even calls for construction workers eased, according to the latest Beige Book reading, the Federal Reserve’s informal measure of economic activity. Ken Simonson, chief economist for the Associated General Contractors of America, noted several aspects reflecting lower demand for construction, including nine of the 12 Fed districts reporting “n...
Dive Brief: Some construction activity has begun to slow in various regions around the country as commodity pricing, building permit applications and even calls for construction workers eased, according to the latest Beige Book reading, the Federal Reserve’s informal measure of economic activity. Ken Simonson, chief economist for the Associated General Contractors of America, noted several aspects reflecting lower demand for construction, including nine of the 12 Fed districts reporting “n...