Advocates Urge Agencies To Expand Climate Focus In Fair Lending Rules

Environmental and consumer groups are pressing banking agencies to make additional changes to the Community Reinvestment Act’s (CRA) implementing rules to support climate resilience in low- and middle-income communities, even as they are applauding already-pending proposals to include climate provisions in the anti-redlining regulations. Three financial regulatory agencies in May proposed major revisions to the rules to implement the CRA -- first passed in 1977 to encourage banks to consider local community needs -- including by explicitly outlining various resilience...