Politico, January 29, 2020: ‘You will work with no one’: Waters slams Otting over anti-redlining law
Rep. Maxine Waters and other House Democrats tore into Comptroller of the Currency Joseph Otting today over his proposed revamp of banks’ low-income lending requirements, accusing the regulator of ignoring both Congress and the Civil Rights movement.
Otting last month joined the FDIC in releasing a plan to dramatically overhaul the way banks can comply with the 1977 Community Reinvestment Act, a landmark law to combat the practice of redlining where low-income and minority neighborhoods were shunned as too risky for loans.
Waters accused him of dismissing Democrats’ concerns over a plan that could reshape lending decisions worth hundreds of billions of dollars.
