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CNN: Senate votes to roll back parts of Dodd-Frank banking law

CNN, March 14, 2018: Senate votes to roll back parts of Dodd-Frank banking law

The Senate on Wednesday passed sweeping changes to a swath of rules adopted in the wake of the 2008 financial crisis.

The bill raises the threshold at which banks are considered too big to fail. That trigger, once set at $50 billion in assets, would rise to $250 billion. It would leave only a dozen US banks — including JPMorgan Chase, Bank of America and Wells Fargo — facing the strictest regulations.
The measure would also shield more than two dozen banks from some Fed oversight under the 2010 Dodd-Frank regulatory law. Those banks would no longer be required to have plans to be safely dismantled if they fail. And they would have to take the Fed’s bank health test only periodically, not once a year.
The legislation will now move to the House, where it will need to be reconciled with possible fixes proposed by Rep. Jeb Hensarling, chairman of the House Financial Services Committee.
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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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