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US CRA banking rule revision to come from October

Content type:: Expert Briefings
Location:: UNITED STATES
Keywords associated with this article:: Geographic: United States NA

Topical: politics banking finance reform regulation economy industry debt
ISSN:: 2633-304X
Citation:: Oxford Analytica (2020), "US CRA banking rule revision to come from October", Expert Briefings.
https://doi.org/10.1108/OXAN-DB252795

Friday, May 22, 2020

Significance

The CRA is the flagship US law to counter disciminration against low-income communities by financial institutions. Otting, a Republican and former bank chief, assumed his position in 2017 and made CRA shake-up his priority.

Impacts

Democrats may seek to overturn the rule if they win the 2020 elections but would likely need to win the White House.
Changing CRA requirements further may be part of any further COVID-19 stimulus legislation.
The rule will be subject to legal challenges, some of which could delay its implementation indefinitely.

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Significance

Impacts

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