Regulators propose overhaul to law governing how banks lend to low-and-middle income communities

The Trump administration has announced a major overhaul of the rules governing a critical piece of Civil Rights-era legislation that regulates how banks lend to low- and middle-income communities.

The proposed changes alter the framework of the 1977 anti-redlining law. Most notably, the new regulations will reduce the number of financial institutions that are required to fully comply with the statute.

The Office of the Comptroller of the Currency is involved in the regulatory process for updating the lending standards established under the original legislation.