US Bank Agencies Move to Undo Biden-Era Anti-Redlining Rules

US bank regulators propose amending Community Reinvestment Act regulations by rescinding a Biden-era rule meant to tackle redlining and boost lending to lower-income areas.

• Agencies say the plan would restore certainty under the Community Reinvestment Act framework in light of pending litigation and limit the regulatory burden on banks
• NOTE: The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency said earlier this year they planned to rescind the Community Reinvestment Act rule, which was issued in 2023 as an update to the decades-old legislation
• NOTE: Fed Officials Say More Needs to Be ...