Discriminatory Lending news and trends

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Fed Overhauls Community Reinvestment Act to Adapt to Online Banking

October 24, 2023
The Federal Reserve has reportedly finalized a revamp of the Community Reinvestment Act (CRA) rules, which were enacted in 1977 to combat discriminatory lending practices in minority neighborhoods. The updated rules aim to address the challenges posed by the rise of online banking and mobile transactions, shifting the focus from physical branch locations to where banks conduct […]