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Community Lending Rules Moving With ‘Deliberate Speed,’ OCC Says

Aug. 3, 2021, 6:48 PM

Banking regulators are moving quickly to update rules on how banks are graded on their lending to and investments in low-income communities, acting Comptroller of the Currency Michael Hsu said.

The Office of the Comptroller of the Currency and the Federal Reserve are working “with all deliberate speed” to review thousands of comments on how best to modernize the Community Reinvestment Act, a 1977 anti-redlining law, Hsu told the Senate Banking Committee Tuesday.

“The teams are working very quickly. We want to make sure we do it right,” Hsu said, without providing a timeline on when a proposal would ...

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