OCC CRA Final Rule – Opposition from Consumer Advocacy Groups and Congress
CFPB Monitor
JULY 9, 2020
The OCC’s decision to hurriedly issue the final rule on May 20, 2020 without achieving consensus with the FDIC, the agency with which the OCC had jointly issued the proposed rule, has drawn the ire of both consumer advocacy groups and Congress. Maxine Waters (D-CA) and Rep. First, consumer advocates have vigorously opposed the rule.
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