OCC Chief Courting Big Bank CEOs on CRA Reform

The head of the OCC, Joseph Otting, has been personally lobbying big bank CEOs to win support for his plans to overhaul the Community Reinvestment Act; this includes JPMorgan Chase CEO Jamie Dimon and Bank of America CEO Brian Moynihan; apparently the responses have been cordial but lukewarm; the OCC plan, which also has support from the FDIC (but not the Federal Reserve), would take into account online deposits, not just those deposits from physical branches; the Federal Reserve has concerns about the impact on lending to poorer neighborhoods. The Wall Street

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