Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchi - A federal judge in Texas on Friday blocked enforcement of new regulations adopted during the Biden administration that sought to overhaul how lenders extend loans and other services to low- and moderate-income Americans.
Conceived to prevent red lining - a discriminatory practice where banks refuse or offer only limited lending to certain areas or populations, primarily minorities - CRA regulations gauge how well banks service areas where they operate. He said the rules went too far by allowing banks be assessed not just in the geographic areas they maintain physical branches but also in other areas in which they conduct retail lending and by allowing the regulators to assess the availability of a bank’s deposit products, not just credit, in a community.