Can an Effort to Revamp Anti-Redlining Lending Law Survive the Swamp?

"The first major overhaul of the Community Reinvestment Act since 1995 wins praise, but some advocates say it falls short on closing the racial lending gap."

Why this is important: On May 5, 2022, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively the agencies) issued a joint notice of proposed rulemaking that proposes changes to the way the agencies evaluate a bank’s performance under the Community Reinvestment Act ("CRA").