Tribune Content Agency, July 1, 2020: House steps into fight over changes to anti-redlining rule
With the House passing its sweeping police-reform bill, the chamber is set to take up another measure that echoes civil-rights battles of the past, this one in the financial sphere.
The House will debate Friday, and vote Monday, on a resolution to roll back a federal regulation that critics say would weaken legislation enacted in the 1970s requiring banks to invest in low-income and minority communities, an effort to ban the discriminatory practice of “redlining” neighborhoods.
“At a time when the country is dealing with all of this, this rule from the [Office of the Comptroller of the Currency] goes in the exact wrong direction, it would decrease investment in these communities,” Jesse Van Tol, chief executive officer of the National Community Reinvestment Coalition, told National Journal.
