Community Reinvestment Act poised to affect auto finance

The OCC, FDIC, Federal Reserve and Treasury issued a notice of proposed rulemaking in June

© Can Stock Photo / PaulPaladin

Regulators are set to bring Community Reinvestment Act (CRA) requirements to auto finance in a move that is likely to have far-reaching implications in how banks manage their auto portfolios.   The CRA is a 1977 statute that “encourages” regulated financial institutions to demonstrate that their lending practices serve the credit needs of the communities in […]

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