Treasury proposes updates meant to boost lending in poor communities

Source: Sylvan Lane, The Hill

The Treasury Department called on federal regulators to update a 1977 law meant to prevent mortgage discrimination and encourage banks to invest in struggling areas in which they operate.

Treasury released close to a dozen recommendations of ways federal regulators could update the Community Reinvestment Act (CRA) to reflect the fundamental changes in banking seen since its passage more than 40 years ago.

Read Full Article: Treasury proposes updates meant to boost lending in poor communities

 
 

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