OCC Seeks Input On Lending Regs For Underserved Areas
Law360 (August 28, 2018, 11:16 PM EDT) -- The Office of the Comptroller of the Currency kicked off a process Tuesday that could lead to an overhaul of regulations around bank lending in underserved areas, drawing praise from industry groups that say the rules need modernizing and pushback from community groups that say any reform shouldn't weaken existing standards.
In an advance notice of proposed rulemaking, the OCC said it's looking for input on how to update the rules implementing the Community Reinvestment Act, a 1977 law aimed at curbing redlining and expanding credit access by encouraging banks to provide loans and other services to less affluent parts of...
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