Regulatory-Response

Fed Implements Strict Trading Restrictions After Major Ethics Scandal

2021-10-21 00:00:00 +0000 UTC | Importance: 7/10

The Federal Reserve announced comprehensive trading restrictions for senior officials following a major financial ethics scandal. In response to controversial trades by regional Fed bank presidents Robert Kaplan and Eric Rosengren during the Covid-19 pandemic, the Fed imposed strict new rules …

Jerome Powell Federal Reserve Board Elizabeth Warren Richard Clarida Robert Kaplan +1 more federal-reserve ethics-policy trading-restrictions jerome-powell regulatory-response +4 more

Community Reinvestment Act Passed to Combat Redlining, Banking Industry Resists

1977-10-12 00:00:00 +0000 UTC | Importance: 7/10

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 Carter Senator William Proxmire American Bankers Association Federal Reserve FDIC +1 more regulatory-response housing-policy banking-regulation civil-rights housing