American Banker: New CRA proposal scheduled for release in March: OCC’s Otting

American Banker, February 27, 2018: New CRA proposal scheduled for release in March: OCC’s Otting

Regulators plan to have “an interagency redo” of Community Reinvestment Act rules out for distribution by the end of March, Comptroller of the Currency Joseph Otting said Tuesday.

Speaking at a securitization industry conference in Las Vegas, Otting said reform of CRA regulations is a “key element” of how regulators are aiming to recalibrate rules a decade after the financial crisis.

“I don’t think there is any doubt” that the pendulum has swung too far in the direction of regulation, Otting said in response to a question from the head of the Structured Finance Industry Group.

Print Friendly, PDF & Email