HUD: Improved Fair Housing Proposed Rule Issued
The U.S. Housing and Urban Development (HUD) today published its proposed Affirmatively Furthering Fair Housing (AFFH) rule, which offers clearer guidance to states and local governments to help them improve affordable housing choices in their community. Read HUD’s proposed rule. “HUD’s commitment to Fair Housing remains as steadfast as ever before, and this improved rule reaffirms our mission…
Interagency Release: Agencies Release CRA Asset-Size Threshold Adjustments for Small and Intermediate Small Institutions
The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations. The annual adjustments are required by the CRA rules. Financial institutions are evaluated under different CRA examination procedures…
FDIC: Proposed Rule on Brokered Deposit Restrictions Issued
The Federal Deposit Insurance Corporation (FDIC) today issued a notice of proposed rulemaking (NPR) to modernize its brokered deposit regulations. The proposal would, among other things, modernize a regulatory framework built for a different era to remove regulatory disincentives to offering deposit accounts to customers through different channels. The proposal would establish a new framework…
FDIC: Agencies Propose to Modernize CRA Regulations
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been substantively updated for nearly 25 years. The proposed rules are intended to increase bank activity in low- and moderate-income communities…
OCC: FDIC and OCC Propose to Modernize CRA Regulations
The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) today announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been substantively updated for nearly 25 years. The proposed rules are intended to increase bank activity in low- and moderate-income communities…
SBA: New Final Rule Modifies Method for Calculating Annual Revenues for Small Businesses
The U.S. Small Business Administration today published in the Federal Register a final rule to modify its method for calculating annual revenues used to prescribe size standards for small businesses. The final rule is effective Jan. 6, 2020. The SBA changed its regulations on the calculation of annual revenues from a three-year averaging period to a five-year averaging period, outside of…
FDIC: Comments Requested on Approaches to Cost-Benefit Analysis of Regulatory Actions
The Federal Deposit Insurance Corporation (FDIC) is issuing a Request for Information (RFI) seeking comment on approaches it uses, or is considering using, to analyze the effects of its regulatory actions. The RFI is part of FDIC’s ongoing effort to strengthen the quality of its regulatory cost-benefit analyses. FDIC Chairman Jelena McWilliams said, “A transparent analysis of…
CFPB: Federal Regulators Issue Joint Statement on the Use of Alternative Data in Credit Underwriting
Five Federal financial regulatory agencies today issued a joint statement on the use of alternative data in underwriting by banks, credit unions, and non-bank financial firms. The statement from the Federal Reserve Board (Federal Reserve), the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency…