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WASHINGTON, July 20 (Reuters) - A leading U.S. bank regulator announced Tuesday it will propose rescinding a 2020 update to a fair lending rule, and instead will work with other regulators on establishing a joint rule.
The Office of the Comptroller of the Currency (OCC) said it was moving to scrap the previous update to the Community Reinvestment Act (CRA) rules, saying uniform action across regulators is preferred. In a joint statement, the OCC, Federal Reserve and Federal Deposit Insurance Corp (FDIC) said they were committed to a joint rule-writing effort to update requirements for the 1977 fair lending law.
More red flags on the economy
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Fintech Legal Report—Week Of July 16 - Technology
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The property is 96 percent leased as Tishman Speyer takes ownership of the newly-completed second building.
Earlier this year, Tishman Speyer closed on the Foundry I building, which had opened in 2019. At the time, it was announced that the follow-up acquisition of Foundry II would be executed once construction was completed. The sale prices was reported then at $150 million.
During the period between the initial acquisition agreement and the transaction closing announced today, Tishman Speyer worked closely with Cielo Property Group and CBRE to complete 128,195 square feet of new leasing at Foundry II, which is now 99 percent leased.
“This confluence of events that we have announced today is everything we could have hoped for when we reached our initial acquisition agreement with the developer, Cielo Property Group,” said Tishman Speyer Senior Managing Director Ryan Botjer. “We certainly recognized that Austin is one of the nation’s emerging technology centers, and we env
UPDATE 1-U S banking regulator moves to scrap Trump-era fair lending rule
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