Trump Administration Proposes Overhaul of Civil Rights-Era Banking Rules
The Trump administration has proposed significant changes to the Community Reinvestment Act (CRA), a key piece of Civil Rights-era legislation. The proposed overhaul, announced by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, aims to reduce the number of banks required to fully comply with the CRA. The changes would increase the asset threshold for small banks and redefine compliance requirements, potentially reducing the number of banks subject to the full extent of the CRA by 800. The proposal also seeks to narrow the scope of community development grants and increase transparency in grant allocations. 
