Rules on bank lending in poor neighbourhoods are being rethought
America’s Community Reinvestment Act is sensitive, but still up for revision
THE document is dry, dusted with references to “benchmarks”, “performance evaluation” and “a metric-based framework”. But the 25 pages published on August 28th by the Office of the Comptroller of the Currency (OCC), one of America’s federal bank regulators, may start a protracted dispute over lenders’ obligations to poor neighbourhoods and hence to racial minorities.
This article appeared in the Finance & economics section of the print edition under the headline “Another equity debate”
Finance & economics September 1st 2018
- A draft deal clarifies what populist trade policy means in practice
- KPMG is caught up in scandals but its woes are not existential
- Rules on bank lending in poor neighbourhoods are being rethought
- Markets bash Argentina’s and Turkey’s currencies again
- Informal trade is ubiquitous in Africa, but too often ignored
- Central bankers grapple with the changing nature of competition
From the September 1st 2018 edition
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