Community groups have asked a California federal court to block a new rule that they say eases how national banks are graded on their lending to low-income communities.
The Office of the Comptroller of the Currency didn’t provide for meaningful public input on key revisions to a new rule implementing the Community Reinvestment Act, the groups said in a lawsuit filed Thursday in the U.S. District Court for the Northern District of California.
The National Community Reinvestment Coalition and the California Reinvestment Coalition said the May 20 rule was rushed through during the coronavirus pandemic and violates the Administrative Procedure ...