Regulator Defends Plan to Let Banks Earn Credit for Stadium Funding

(Bloomberg) -- Comptroller of the Currency Joseph Otting pushed back against criticism that a proposal for overhauling community-focused lending requirements would let banks score points for building or improving professional sports stadiums.The practice isn’t a new one, Otting said, noting that banks have often received such credit in the past, though it’s generally been for small projects such as those associated with school sports fields.“Many of the examples involve communi