On April 4, acting Comptroller of the Currency Michael J. Hsu provided his remarks for the second year in a row at the Just Economy Conference hosted by the National Community Reinvestment Coalition. He focused his remarks on the latest developments of the Office of the Comptroller of the Currency (OCC) in its continuing efforts to elevate fairness in the financial industry.… Continue Reading
NCRC
CFPB Addresses ASC Appraisal Bias Hearings and Structure of The Appraisal Foundation
By Loran Kilson & Richard J. Andreano, Jr. on
The CFPB published a blog discussing a few key takeaways from a series of public hearings addressing appraisal bias.
For background, the Federal Financial Institution Examination Council’s (FFIEC’s) Appraisal Subcommittee (ASC) has held four public hearings throughout 2023-2024 to facilitate discussions regarding bias and lack of diversity within the appraisal business.… Continue Reading
OCC CRA Final Rule – Opposition from Consumer Advocacy Groups and Congress
By Scott A. Coleman & Lori J. Sommerfield on
Over the past six weeks, opposition to the OCC’s Community Reinvestment Act (“CRA”) final rule has hardened on two fronts. The OCC’s decision to hurriedly issue the final rule on May 20, 2020 without achieving consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule, has drawn the ire of both consumer advocacy groups and Congress.… Continue Reading