Hartford Courant, July 16, 2020: OCC ‘fix’ weakens redlining law
That’s why many in the business are puzzled as to the reasoning for the changes. Certainly, some of the circumstances don’t pass a sniff test, such as Comptroller of the Currency Joseph Otting’s resignation the day after the final rule was posted, after an abbreviated time to consider public comments.
If this was a boxing match, it likely would be ruled a split decision, since the Federal Deposit Insurance Corporation and the Federal Reserve Board, the other two major federal banking regulators, have not signed off on the final rule.
