Banks in a Bind: Industry Has Issues With CRA Revamp, But Fighting Back May be Tricky

Also, CFTC's Pham calls for mandatory training to boost staff's 'basic' knowledge of derivatives markets

Regulators have wrapped up their years-long effort to overhaul rules aimed at boosting bank lending in underserved communities. For progressives and the White House, the update of Community Reinvestment Act regulations is a signature achievement, especially with an election year approaching.

Nevertheless, today’s action by the Federal Reserve, FDIC and O…