Restoring Prosperity
The Greater Ohio Policy Center Blog
Last month, the Office of the Comptroller of the Currency (OCC), an independent bureau within the U.S. Department of the Treasury, along with the Federal Deposit Insurance Corporation (FDIC), proposed rules that would considerably weaken the regulations governing the Community Reinvestment Act (CRA).
You may have heard the term “redlining,” a practice started in the 1930’s to describe the discriminatory act of marking off neighborhoods, using a red marker or pen on a map, where banks would deliberately avoid lending based on race, ethnicity, or religion. The results are unfortunately well known and are still with us today.
