Bank Regulators Float Rules To Spur Climate Resilience In Poorer Areas

Bank regulators are proposing rules that would encourage the funding of climate resilience projects in low- and moderate-income neighborhoods, responding to calls from both climate groups and industry to incorporate resilience into a long-awaited overhaul of standards that aims to curb unfair lending practices. A draft revision of implementing rules for the Community Reinvestment Act (CRA), announced May 5, would expand the definition of activities compliant with the CRA to include projects that aid underserved rural and low- and moderate-...