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OCC, Federal Reserve, and FDIC issue final Community Reinvestment Act rule

CFPB Monitor

On October 24, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued a final rule amending their regulations implementing the Community Reinvestment Act. Continue Reading

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OCC Highlights, AML & CRA Risks

Perficient

Additionally, the recent rule by the OCC, the Federal Reserve, and the FDIC strengthens and modernizes Community Reinvestment Act (CRA) regulations. The effective date of the new rule is April 1, 2024, with key provisions taking effect on January 1, 2026, and January 1, 2027. Banks

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The CFPB section 1071 effective date

Abrigo

This means that in addition to banks and credit unions, other lenders subject to the rule’s mandates are finance companies, online lenders, Community Development Financial Institutions (CDFIs), government lenders, and nonprofit lenders. 1, 2025, and they must report data collected for the entire 2025 year by June 1, 2026.

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Online spending by Indian gated communities to reach USD 500 billion by 2026

The Paypers

India-based research company RedSeer has revealed that with the increase in smartphone usage, the total online consumption by gated communities will reach USD 500 billion in India.

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Higher Rates – Faster for Longer

South State Correspondent

We believe that the real risk is that inflation does not meet the Fed’s 2.00% goal until much later, and the interest rates remain elevated for longer than the current Fed’s projection of 2026. Application to Community Banks. A second significant risk for community banks is repricing risk.

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CurrencyFair Launches Cross-Border Collections Solution

PYMNTS

Dublin-based CurrencyFair has a user community of 150,000, who have traded the equivalent of over 9 billion pounds ($11.6 CurrencyFair already has offices in Ireland, Singapore and Australia, and it has been working to expand into Asia, where it is estimated that 33 percent of global money transfers will take place by 2026.

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Amazon To Deliver Alcohol In West Bengal, India

PYMNTS

It is estimated to reach $200 billion in revenue by 2026, up from just $39 billion three years ago, according to The Motley Fool. The eCommerce leader said it expects to create tens of thousands of part-time opportunities in the Amazon Flex communities. It’s located on the east side of the country.

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