Current：Home > MyWhy banks are fighting changes to an anti-redlining program -WealthMindset Learning
Why banks are fighting changes to an anti-redlining program
View
Date：2025-04-17 02:25:40
In 2023, The Federal Reserve and other banking regulators announced they were making changes to how they grade banks on servicing local communities. This all stems from a 1977 law called the Community Reinvestment Act, which was designed to encourage banks to better meet the needs of moderate and low-income borrowers. However, major banking trade groups weren't too excited about the new rules and filed a lawsuit against the banking regulators last week.
Today on the show, we explain the history of racist housing policies in the United States and how that history informs the banks' fight with the government today.
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
veryGood！ (81819)
Related
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Another Rising Cost of Climate Change: PG&E’s Blackouts to Prevent Wildfires
- Climate Change Threatens a Giant of West Virginia’s Landscape, and It’s Rippling Through Ecosystems and Lives
- 'It's not for the faint-hearted' — the story of India's intrepid women seaweed divers
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Scarlett Johansson and Colin Jost Turn Heads During Marvelous Cannes Appearance
- DNC to raise billboards in Times Square, across U.S. to highlight abortion rights a year after Roe v. Wade struck down
- Rochelle Walensky, who led the CDC during the pandemic, resigns
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- 12 House Republicans Urge Congress to Cut ANWR Oil Drilling from Tax Bill
Ranking
- Highlights from Trump’s interview with Time magazine
- Chilli Teases Her Future Plans With Matthew Lawrence If They Got Married
- New York prosecutors subpoena Trump deposition in E. Jean Carroll case
- Climate Change Threatens 60% of Toxic Superfund Sites, GAO Finds
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Florida deputy gets swept away by floodwaters while rescuing driver
- 12 House Republicans Urge Congress to Cut ANWR Oil Drilling from Tax Bill
- California’s Low-Carbon Fuel Rule Is Working, Study Says, but Threats Loom
Recommendation
NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
Missing sub passenger knew risks of deep ocean exploration: If something goes wrong, you are not coming back
A decoder that uses brain scans to know what you mean — mostly
Climate Change Threatens 60% of Toxic Superfund Sites, GAO Finds
Retirement planning: 3 crucial moves everyone should make before 2025
Think Covid-19 Disrupted the Food Chain? Wait and See What Climate Change Will Do
It'll take 300 years to wipe out child marriage at the current pace of progress
America has a loneliness epidemic. Here are 6 steps to address it