October 17, 2023
After years of uncertainty and limbo, federal bank regulators are set to finalize reforms to the Community Reinvestment Act next week.
The Federal Reserve announced today that the board will convene next Tuesday, Oct. 24, to vote on the Biden administration’s version of the reform, which regulators proposed back in May 2022. This is an interagency effort and includes the Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency as well.
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