The Hill: Bank regulator unveils new anti-redlining rules ahead of expected departure

The Hill, May 20, 2020: Bank regulator unveils new anti-redlining rules ahead of expected departure

The Office of the Comptroller of the Currency (OCC) on Wednesday released new rules covering how banks should be judged under a 1977 anti-redlining law, breaking with two other bank regulators ahead of the comptroller’s expected resignation.

The OCC unveiled its proposal to update the rules that regulators and banks must follow under the Community Reinvestment Act (CRA), a law that requires banks to serve low-income communities and finance loans and projects in areas historically neglected by the financial sector.

Print Friendly, PDF & Email