This story was originally published by Reveal from The Center for Investigative Reporting, a nonprofit news organization based in the San Francisco Bay Area. Learn more at revealnews.org and subscribe to the Reveal podcast, produced with PRX, at revealnews.org/podcast.
The Trump administration unveiled its vision to overhaul the federal law that regulates how banks lend to poor and working-class neighborhoods.
But housing advocates say those potential changes would lower the bar for banks lending in these communities.
Few of the proposed changes address the issues Reveal found in its “Kept Out” series.
The Community Reinvestment Act, signed in 1977, was designed to fight the effects of government-sanctioned housing discrimination, known as redlining, by requiring banks to make an effort to lend to all types of neighborhoods.
These proposed changes would water down the law’s intended purposes, said Lisa Rice, the president and CEO of the National Fair Housing Alliance. “It will be a detriment to families and our nation if changes to the CRA fail to guarantee that banks are meeting the credit needs of people in the communities where they are located.”
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