The bank regulatory agencies have issued final rules on suspicious activity reporting. The rules take effect on April 1, 1996, and that's no joke!
The reports are coming in on some of the first compliance examinations under the new CRA regulation and examination procedures.
Question: What are acceptable ratios for loan applications from minorities and approvals to denials for minorities and non-minorities? Are there any standards?
The Federal Reserve Board has proposed an update to the Official Staff Commentary to Regulation B, Equal Credit Opportunity.
The word from the regulatory agencies is out, and it's final. There will be no delays in implementing the new CRA regulation and examination procedures.