December 15, 2019

By: Brendan Pedersen, American Banker

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WASHINGTON — Bank regulators moved the needle this week on efforts to reform the Community Reinvestment Act, but their sweeping proposal could set in motion a bruising battle to come.

Clear fault lines had already appeared before the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. released their 240-page notice of proposed rulemaking, with the Federal Reserve refusing to sign on to the document and Democratic lawmakers criticizing the plan even before it was unveiled.