For years, a battle over the place of guidance in the regulatory world has been hotly debated. Now, there may be some clarity.
The Office of the Comptroller of the Currency has is now seeking public comments on the best ways to modernize the regulatory the Community Reinvestment Act.
Enacted in 1977, the Community Reinvestment Act has helped ensure fair lending practices in low-income communities. Now, with mobile banking and FinTech revolutions, some say the law needs to be modernized.