Fed Moves to Overhaul Lending Rules for Poorer Communities

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WASHINGTON—The Federal Reserve, splitting from other U.S. bank regulators, took an initial step to rewrite rules for hundreds of billions of dollars in lending and investment in lower-income neighborhoods.

Fed governors voted 5-0 to seek public comment on a broad overhaul to its rules for the Community Reinvestment Act, a 1977 law aimed at ending “redlining”— banks’ practice of avoiding lending in certain areas, often minority neighborhoods.



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