BPI joined the American Bankers Association, the U.S. Chamber of Commerce and several financial and business trades in a joint letter on Feb. 2 calling on the Office of the Comptroller of the Currency to pursue a joint Community Reinvestment Act rule with the FDIC and Federal Reserve and stop its work on establishing performance benchmarks related to its June rule. The OCC should withdraw its June 2020 CRA rule, or delay the compliance date for at least two years, and immediately move toward a joint effort with the FDIC and Fed, the trades wrote. The OCC’s benchmarks NPR would call for historical data that banks may not have, and would use a flawed benchmarking methodology to measure banks’ performance in meeting CRA goals. A unified approach among the OCC, Fed and FDIC on the rule would benefit customers and communities where the CRA aims to promote greater credit access.
Consumer Affairs
“There You Go Again”: Setting the Record Straight on Large Banks’ Branch Presence in LMI and Minority Neighborhoods
“There You Go Again”: Setting the Record Straight on Large Banks’ Branch Presence in LMI and Minority Neighborhoods
Artificial Intelligence
The Role of Machine Learning and Alternative Data in Expanding Access to Credit: Fintechs’ Regulatory Advantage Is to the Detriment of Consumers
The Role of Machine Learning and Alternative Data in Expanding Access to Credit: Fintechs’ Regulatory Advantage Is to the Detriment of Consumers
Bank Capital and Stress Testing
BPI Response to Federal Reserve Vice Chair Barr’s Statements on Bank Capital Requirements
BPI Response to Federal Reserve Vice Chair Barr’s Statements on Bank Capital Requirements
Supervision & Enforcement
FDIC’s Proposed Changes to Supervisory Appeals System Fall Short of Progress
FDIC’s Proposed Changes to Supervisory Appeals System Fall Short of Progress
