Federal Banking Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule and Return to Prior Framework

Last week, each of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Department of Justice Antitrust Division (DOJ) revised how they will review bank mergers. Our Financial Services and Antitrust teams highlight what banks considering mergers should know about the changes.

This article outlines what banks should consider as regulators plan to rescind the 2023 Community Reinvestment Act final rule and to reinstate the prior CRA framework.

A&B Abstract: On June 21, the Consumer Financial Protection Bureau (CFPB), along with five federal regulatory agencies (Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), and Federal Housing Finance Agency (FHFA) (the “Agencies”), published for public […]

The post CFPB and Federal Agencies Seek Comment on Proposed Automated Valuation Models Rule appeared first on Alston & Bird Consumer Finance ABstract.

Our Financial Services & Products Group investigates the federal banking regulators’ roadmap for crypto-asset regulation in 2022 and a new OCC procedure national banks must comply with to conduct crypto-asset activities.

Our Financial Services & Products and Antitrust Groups examine the Biden Administration’s call to revitalize oversight of bank consolidations and what it means for smaller banks’ ability to compete against their larger competitors and FinTech companies.