New Community Lending Rules Could Face N.Y.-Led State Pushback (Corrected)

New York chartered global banks such as Goldman Sachs and Deutsche Bank may not get the benefits of a revised regime for measuring lending to lower-income communities.

That’s because the New York Department of Financial Services doesn’t appear ready to go along with a Dec. 12 proposal from federal regulators to radically reshape the Community Reinvestment Act. Currently, banks are measured on a branch-by-branch basis, but the Federal Deposit Insurance Corporation and Office of the Comptroller want to include broader categories of bank lending in their CRA assessments.

The FDIC and OCC oversee the bulk of banks that are covered ...