The Office of the Comptroller of the Currency, led by Comptroller John Hawke Jr, issues a preemption determination blocking enforcement of the Georgia Fair Lending Act against national banks, marking a turning point in federal regulators’ campaign to shield predatory lenders from state …
Office of the Comptroller of the CurrencyJohn Hawke JrGeorgia State LegislatureNational City BankAmerican Bankers Associationregulatory-capturepredatory-lendingpreemptionhousing-policyhousing
President Clinton signs the Riegle-Neal Interstate Banking and Branching Efficiency Act, removing Depression-era restrictions that prevented banks from operating across state lines. The law enables massive consolidation in the banking industry, with the number of commercial banks declining from over …
President Bill ClintonSenator Donald RiegleRepresentative Stephen NealAmerican Bankers AssociationNationsBank+1 morebanking-deregulationhousing-policyconsolidationregulatory-capturehousing
President Carter signs the Community Reinvestment Act (CRA), requiring banks to meet the credit needs of their entire communities, including low- and moderate-income neighborhoods previously redlined by lenders. The law responds to decades of documented discriminatory lending that drained deposits …
President Jimmy CarterSenator William ProxmireAmerican Bankers AssociationFederal ReserveFDIC+1 moreregulatory-responsehousing-policybanking-regulationcivil-rightshousing
Congress passes two major housing consumer protection laws in 1974: the Equal Credit Opportunity Act (ECOA) prohibiting discrimination in lending based on sex and marital status (race added in 1976), and the Real Estate Settlement Procedures Act (RESPA) requiring disclosure of closing costs. …
U.S. CongressPresident Gerald FordAmerican Bankers AssociationMortgage Bankers AssociationFederal Reservefair-lendingconsumer-protectionhousing-policyindustry-lobbyinghousing