House OKs Bid To Block New Community Lending Rules

Law360 (June 29, 2020, 11:01 PM EDT) -- The U.S. House of Representatives on Monday approved a measure that would reverse the Trump administration's controversial overhaul of rules requiring banks to lend in lower-income communities, though the Republican-controlled Senate will still have a chance to block the repeal effort.

The Democratic-sponsored measure, passed by a 230-179 vote strictly along party lines, would make use of Congress' regulatory lookback authority to nullify the Office of the Comptroller of the Currency's new rules under the Community Reinvestment Act, a 1977 anti-redlining law that shapes the flow of billions of dollars in bank financing every year.

Finalized last month, the new rules...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!