Rules mark first major update of the 1977 Community Redevelopment Act in nearly 30 years in an effort to ensure fair lending in lower-income areas
Federal banking regulators on Tuesday released a nearly 1,500-page update to the 1997 Community Reinvestment Act to promote bank lending and other services to lower-income areas.
Seen as a victory for Federal Reserve Bank Vice Chair for Supervision Michael Barr, the rules were released in their final form on Tuesday for publication in the federal register after a draft was made available for comment in May 2022. Banks will have to start complying with the new rules in January 2026. Agency officials said they provided an additional 12 months for a transition period.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Feds announce quicker passport processing times: How long will it take to get a passport?People wanting to get passports for travel can expect quicker service, according to the U.S. State Department.
Baca lebih lajut »
Elon Musk says feds issued subpoenas over Tesla Autopilot crash probeThe requests for documents are related to Autopilot and FSD features and other requests “associated with personal benefits, related parties, vehicle range and personnel decisions.”
Baca lebih lajut »
Disappearing Dinosaur Bones Were Sold to China for $1 Million, Feds ChargeThe defendants exported 150,000 pounds of paleontological resources stolen from southeastern Utah, according to the grand jury indictment.
Baca lebih lajut »
Video: Gold Roylaty CEO Garofalo lauds court for knocking fedsNo 1 source of global mining news and opinion
Baca lebih lajut »
Elon Musk’s Tesla filings say feds are stepping up probesTesla says 'to our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred.'
Baca lebih lajut »