2019 Outlook OCC: May Need to Bend on Community Investment Metric

Michael Nonaka is quoted Bloomberg Law regarding the Office of the Comptroller of the Currency’s 2019 revamped rules for banks’ community investments. Mr. Nonaka says, “It’ll be interesting to see what the next step is in the rulemaking process, and that will reveal whether there are these differences.” He said the agencies are likely to come together on some sort of a revision on measuring CRA compliance. He adds, “Some of the sanding down of the rougher edges would happen in the rulemaking process anyway.”