OCC Finalizes Overhaul Of Community Lending Rules

Law360 (May 20, 2020, 10:37 AM EDT) -- The Office of the Comptroller of the Currency said Wednesday that it's formally adopting a package of revisions to regulations that require banks to lend to lower-income and underserved communities, capping off a controversial overhaul that Democrats and community advocates wanted tabled during the novel coronavirus pandemic.

The OCC, which oversees national banks and federal savings associations, issued a final rule that delivers on its Comptroller Joseph Otting's push to make the first major changes in more than two decades to agency regulations implementing the Community Reinvestment Act, a 1977 law intended to combat lending discrimination and promote equal access to...

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