Despite indications that the next federal rulemaking to revise Community Reinvestment Act (CRA) standards will not involve the Federal Reserve, one of the Fed’s governors recently said he believes all three federal banking regulators will be able to agree to terms for a final rule on CRA reform.
Fed Vice President for Supervision Randal Quarles was asked by Sen. Doug Jones (D-Ala.) at a recent Senate committee hearing whether there was a chance that the prudential regulators might end up attempting to tackle CRA reform in different ways.
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