Political Quotes

William Bryan: “The regulators have the opportunity to consider the CRA issues presented among a range of other issues--capital…”

On the recordMay 5, 1999
The regulators have the opportunity to consider the CRA issues presented among a range of other issues--capital adequacy, a whole host of things that may be unrelated. Even if the institution which has the application has the lowest possible rating--substantial noncompliance, which, in effect, means they have done virtually nothing--the regulator can still approve the application. They can still approve it. So there is no requirement under the existing law with respect to the kinds of mergers, acquisitions, charter changes, and branch expansions that requires a financial institution to even have a satisfactory rate. So this is hardly an onerous provision, I say to my friend from Maryland.
Said by
William Bryan
Florida
Source
govinfo.gov

Editor's note · Context

Discussing the role of bank regulators and the Community Reinvestment Act during a Senate debate.

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