Fair Lending Fair Servicing Product Update
New MLA and SCRA Fields in RiskExecA difference in outcomes that looks unexplained may actually reflect a legitimate regulatory requirement, a prohibited basis, or a military-related protection. When those variables aren't available in the analysis, every such difference collapses into unexplained variance, which is the hardest kind to evaluate and to defend in a review. Financial institutions can now capture and […]
CRA Industry Insight Regulatory Updates
The Road Less Travelled to the ROAD to Housing LawThe biggest housing law in three decades became law at midnight on July 11. No ceremony, no signature. The President let the constitutional clock run out, and the 21st Century ROAD to Housing Act quietly took effect without fanfare. However, as they say sometimes the devil is in the details. Most of the coverage and […]
CRA Regulatory Updates
What the 21st Century ROAD to Housing Act Means for CRA and Community Development ProgramsThe 21st Century ROAD to Housing Act is now law, and for Community Reinvestment Act (CRA) and community development teams, one change stands out: national banks and state member banks can now hold public-welfare investments equal to as much as 20% of capital and surplus, up from 15%. The higher statutory limit does not apply […]
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