NCRC Recommends New Way To Establish CRA Assessment Areas For Branchless Banks
Branchless banks that primarily make loans over the internet are increasingly applying to the federal bank agencies for bank charters. As the Federal Reserve Board and the other regulatory agencies embark on an effort to reform the Community Reinvestment Act (CRA) regulations, one of the critical questions is how to establish CRA Assessment Areas (AAs), which are traditionally tied to bank branch locations, for branchless banks. Q4 2020 hedge fund letters, conferences and more Designating CRA AAs For Branchless BanksThe Federal Reserve Board has suggested designating AAs for branchless banks b...