May 27, 2022
By: Melissa Hellman, The Center for Public Integrity
A law meant to correct the harm done by decades of discrimination in bank loans is undergoing a long-awaited overhaul.
Fair lending advocates have said it’s too easy for banks to get a passing grade under the Community Reinvestment Act, and that communities of color continue to be disproportionately denied home loans. Now federal regulators are working on a significant update to CRA regulations.