Tagged: cra

Digital Bank Varo Bank Submits Comment Letter on Community Investment Act Proposed Amendments

Varo Bank, the first true digital only bank that made it through the rigorous chartering process, has issued a comment letter on a potential change to the Community Reinvestment Act (CRA). The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation… Read More

The Financial Technology Association Comments on Potential Changes to the Community Reinvestment Act

The Financial Technology Association (FTA) has issued a statement regarding potential changes to the Community Reinvestment Act (CRA). The CRA is a law that seeks to encourage financial institutions to serve diverse communities, including low and moderate-income neighborhoods. Recently, several federal institutions, including the FDIC,… Read More

House Republicans Introduce Bill to Challenge Controversial CFPB Rule on Arbitration

Republicans members on the House Financial Services Committee have introduced legislation (H.J. Res 111) designed to nullify a controversial rule published by the Consumer Financial Protection Bureau (CFPB). The resolution is cosponsored by all 34 Republican Members of the Financial Services Committee and mirrors a resolution… Read More

Cashfloat Designs FCA-Compliant Lender Affordability Model, Parameters Support Lending Decisions

Cashfloat’s data-modelling scientists have developed an advanced affordability model, designed to generate a clearer picture of the client’s affordability. This enables the Cashfloat team to make decisions about lending, better aligned with the FCA compliance framework. Western Circle Ltd, a London-based lending company trading as Cashfloat.co.uk, confirmed that… Read More

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