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14 hours ago

Trump regulators propose overhaul of 'weaponized' Community Reinvestment Act, say rule funded activist groups

Financial regulators in the Trump administration are proposing changes to a banking industry rule that critics say has been diverted from its original purpose to funneling funds from financial institutions to left-wing advocacy groups.The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation on Friday announced a proposed rule that would make changes to the Community Reinvestment Act (CRA). The law was enacted in 1977 to prevent so-called "redlining" – a practice in which some banks wouldn't give loans in low-income or minority neighborhoods, or offer deposito...