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KM Financial Solutions | UPDATE 1-U.S. banking regulator kicks off low-income lending rules rewrite
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UPDATE 1-U.S. banking regulator kicks off low-income lending rules rewrite

27 Aug UPDATE 1-U.S. banking regulator kicks off low-income lending rules rewrite

Posted at 21:18h in News by
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A federal regulator said on
Tuesday it is seeking input on rewriting decades-old rules aimed
at encouraging bank lending in low-income communities.
The move by the Office of the Comptroller of the Currency
(OCC) to seek public comment is an initial step by regulators to
rewrite the 1977 Community Reinvestment Act (CRA) rules, which
banks say have become outdated since they were last updated in
the 1990s.

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