Adobe Stock Federal regulators have formally begun the process of nullifying their 2023 update to implementing regulations for the Community Reinvestment Act, a Civil Rights-era anti-redlining law that requires banks to invest in the communities they serve. The Federal Reserve Board, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a […]
Regulators begin process of undoing 2023 CRA rule Read More »
Adobe Stock WASHINGTON — New Jersey lawmakers have introduced a bill in the state that would create a state-level Community Reinvestment Act, one that would apply to more financial institutions than its federal counterpart. The bill would extend CRA review beyond banks to online institutions, credit unions and nonbank mortgage lenders. Other states, including Illinois,
NJ to consider CRA bill that would rope in nonbanks Read More »
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