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Sept 24, 2013

UN: Sri Lanka


FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

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also includes "Toxic Credit in the Global Inner City"




Bank Beat

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After Ex-Comptrollers Cashed Out CRA Rule Reconsidered But Still Merger Rubber Stamps?

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - The Source

SOUTH BRONX, SDNY, May 18 – In the midst of the Coronavirus pandemic and after the insurrection, then-Comptroller of the Currency Brian Brooks on January 13 gave another quid pro quo gift, a bank charter to Anchorage, even as he quit with a week left in the Administration. Inner City Press asked, Where might he land and get rewarded for all this?

 In March we learned: Brooks "joined blockchain credit startup Spring Labs as its first independent director, the Marina Del Rey, California-based fintech bragged." Revolting revolving door.

 Now on May 18, this: "The Office of the Comptroller of the Currency (OCC) published in the Federal Register on June 5, 2020, a final rule (June 2020 rule) to modernize the agency’s regulations under the Community Reinvestment Act (CRA). The OCC has determined that it will reconsider the June 2020 rule. While this reconsideration is ongoing, the OCC will not object to the suspension of the development of systems for, or other implementation of, provisions with a compliance date of January 1, 2023, or January 1, 2024, under the 2020 CRA rule. At this time, the OCC also does not plan to finalize the December 4, 2020, proposed rule that requested comment on an approach to determine the CRA evaluation measure benchmarks, retail lending distribution test thresholds, and community development minimums under the June 2020 rule. In addition, the OCC is discontinuing the CRA information collection pursuant to the Paperwork Reduction Act (PRA) notice published in the Federal Register in December 2020."

 But will OCC merger rubber stamping continue under ex-Fed Michael Hsu? See here.

  On May 11 in the Senate, the fake lender rule was overruled under the Congressional Review Act, by a vote of 52 to 47, which ran nearly to 7 pm.

See Fair Finance Watch tweets here. Watch this site.

 Meanwhile Inner City Press' requests under the Freedom of Information Act into Brooks' conflicts of interest in the fintech and crypto-currency world have yet to be fully answered.  Will Brooks be taking "his" documents with him?

  Brooks went whole hog with Anchorage, the so-called first crypto bank. It should be reversed - but will it be? Anchorage was represented by Dana Syracuse through the revolving door from the NYS Department of Financial Services.

Fair Finance Watch and others opposed and requested extensions on Figure, for which OCC has yet to answer Inner City Press' FOIA request, here



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