Latest Updates Around The World
The groups said the existing framework after the financial crisis was designed to strengthen banks’ resilience. But they argue that the mortgage market has changed significantly since then. Reforms such as the Ability-to-Repay and Qualified Mortgage rules now limit risky features such as negative amortization, option ARMs, interest-only loans, and mortgages without documentation. Banks’ participation […]
“Community banks are important drivers of economic growth and need a tailored, proportionate supervisory framework that reflects their critical role in local economies,” Comptroller of the Currency Jonathan V. Gould said in a statement. “By definition, community banks are focused on meeting the financial needs of their communities. Today’s proposal for a simplified CRA strategic […]
