Bank Regulator to Reconsider Trump Anti-Redlining Regulations

The Office of the Comptroller of the Currency said it will reconsider eased anti-redlining rules that had become a centerpiece of the agency’s work during the Trump administration.

The OCC said Tuesday that it plans to reopen Community Reinvestment Act regulations that would give banks an overall grade on lending to low- and moderate-income communities, rather than an assessment at the branch level. The new rules were announced in May 2020 in one of the last acts of Comptroller of the Currency Joseph Otting, a Trump appointee.

Community groups said the OCC rules made it too easy for banks to ...