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Home » Store » News » NY Banking Regulators Withdraw Errant Draft CRA Guideline, Issuers Would Have Been Expected to Perform Due Diligence

NY Banking Regulators Withdraw Errant Draft CRA Guideline, Issuers Would Have Been Expected to Perform Due Diligence

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New York banking regulators said they mistakenly posted a draft industry letter on their web site last month that caused a major uproar in the securities and banking industries. The New York State Banking Department said the July 26 letter was a draft guideline that should not have been posted at all. It was removed last week from the web site and replaced by a revised guideline.
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