FFIEC: Updated Guidance on Pandemic Planning Issued
The Federal Financial Institutions Examination Council (FFIEC) today updated guidance identifying actions that financial institutions should take to minimize the potential adverse effects of a pandemic. Pandemic preparedness is an important part of a financial institution’s business continuity planning. The guidance provides the Council’s prudent expectations that regulated institutions should periodically review related risk management…
Federal Reserve: CRA Analytics Data Tables Published
The Federal Reserve Board on Friday released a series of Community Reinvestment Act (CRA) Analytics Data Tables. This data resource is intended to provide insight into the historical relationship between bank lending activity and regulatory assessments. The tables combine Home Mortgage Disclosure Act (HMDA) data, CRA small business and small farm loan data, and manually…
Interagency: 2020 National Interagency Community Reinvestment Conference March 9-12 in Denver Postponed
After careful consideration of the growing public health concerns associated with the coronavirus (COVID-19), the organizing sponsors of the 2020 National Interagency Community Reinvestment Conference (NICRC), scheduled March 9-12 in Denver, Colorado, have made the decision to postpone the conference. The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit…
Federal Banking Agencies to Host the 2020 National Interagency Community Reinvestment Conference in Denver, CO
The 2020 National Interagency Community Reinvestment Conference takes place in Denver from March 9 to 12. The conference is hosted by the three federal banking agencies, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, and the Federal Reserve Banks of…
Federal Reserve: Do Minorities Pay More for Mortgages?
Read the full paper here. Abstract: We test for racial discrimination in the prices charged by mortgage lenders. We construct a unique dataset where we observe all three dimensions of a mortgage’s price: the interest rate, discount points, and fees. While we find statistically significant gaps by race and ethnicity in interest rates, these gaps…
Federal Reserve: Evaluating the Success of President Johnson’s War on Poverty
Revisiting the Historical Record Using a Full-Income Poverty Measure Read the full report here. Abstract: We evaluate progress in President’s Johnson’s War on Poverty. We do so relative to the scientifically arbitrary but policy relevant 20 percent baseline poverty rate he established for 1963. No existing poverty measure fully captures poverty reductions based on the…
Federal Reserve: Community Depository Institutions Advisory Council Members Announced for 2020
The Federal Reserve Board on Tuesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president of the council for 2020. The CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift institutions, and…
Federal Reserve: Gov. Brainard Gives Speech on Strengthening the CRA by Staying True to Its Core Purpose
By: Governor Lael Brainard At the Urban Institute, Washington, D.C. Good morning. I am pleased to be here at the Urban Institute to discuss how to strengthen the Community Reinvestment Act (CRA), which is a key priority for the Federal Reserve. The CRA plays a vital role in bringing banks together with community members, small…
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…
Federal Reserve: New Report Assesses Information Presented to Prospective Borrowers on Small Business Online Lender Websites
The Federal Reserve Board on Thursday released Uncertain Terms: What Small Business Borrowers Find When Browsing Online Lender Websites, a report that examines the information that prospective small business borrowers encounter when researching and comparing credit products offered by online lenders. Nonbank online lenders are becoming more mainstream alternative providers of financing to small businesses. In…