Add as a preferred source on GoogleTrump-Backed CRA Rewrite Could Ease Community Rules for Banks
The proposal would raise the small-bank asset threshold from $412 million to $1 billion and the large-bank threshold to at least $10 billion.
A proposed Trump-backed rewrite of Community Reinvestment Act rules could reduce housing investment in rural areas and small towns by easing community-development requirements for some banks.
The proposal would raise the asset threshold for small banks from less than $412 million to less than $1 billion. The large-bank threshold would rise from $1.6 billion to at least $10 billion.
The changes could lessen community-development requirements for some banks and potentially reduce financing for housing and other projects in smaller communities.
The proposal would create new regulatory tiers and obligations under the CRA. The potential effect is especially significant for rural areas and small towns, where fewer banks may be subject to the requirements.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.