Podcast #69, "The Coming Perfect Storm," features a discussion between Dean and Len Suzio about new regulatory challenges for the banking sector. Len highlights the implications of two key regulations: Section 1071 of the Dodd-Frank Act and the new Community Reinvestment Act (CRA) rule. Section 1071 requires detailed reporting of small business lending data, including race and ethnicity of borrowers, to the Consumer Financial Protection Bureau. The revised CRA rule emphasizes the impact of fair lending issues on a bank's CRA rating and introduces more stringent criteria for evaluating discriminatory or illegal credit practices.

Len expresses concerns about the potential misuse of small business lending data and the new CRA rule's assessment areas, which could unfairly impact banks' operations and regulatory compliance. He notes that these changes could lead to more aggressive regulatory approaches, especially in light of the Department of Justice's "Anti-redlining Initiative." The podcast concludes with an acknowledgment of the seriousness of these regulatory changes and their potential impact on the banking industry.

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