#146 Summer 2006

OTS Strikes Again

Last year the federal Office of Thrift Supervision weakened the responsibilities of many mid-sized banks under the Community Reinvestment Act by redefining them as small banks. Now OTS has redefined […]

Last year the federal Office of Thrift Supervision weakened the responsibilities of many mid-sized banks under the Community Reinvestment Act by redefining them as small banks. Now OTS has redefined community development to benefit more middle-income people. The agency says banks should get credit for serving “distressed or underserved, nonmetropolitan middle-income geographies.” OTS received over 4,000 comments from consumer groups who said the new language could encourage banks to serve affluent neighborhoods in rural areas rather than low-income people. But the agency acted on positive feedback from about 200 thrifts. (NLIHC)

OTHER ARTICLES IN THIS ISSUE

  • The Politics of Poverty

    July 23, 2006

    Can John Edwards make fighting poverty a winning platform?

  • Planning Beyond the Project

    July 23, 2006

    Neighborhood planning allows CDCs to move beyond housing development and become community catalysts.

  • A Little Too Blunt?

    July 23, 2006

    Alphonso Jackson, HUD’s tough-talking chief, might have spoken a little too bluntly in Dallas in April. Speaking before a gathering of business leaders, Jackson said that he had denied a […]