It’s Time to Rewrite Fair Lending Rules. (Just Not Like This.)
“But while the advance notice of proposed rulemaking, set forth by the Office of the Comptroller of the Currency (an agency under the Treasury Department) has prompted cheers among bankers, the direction that the administration seems to be heading has prompted concerns among civil rights watchdogs. Among the new standards teased by Treasury’s call for input is a numerical target for fair lending compliance—a dollar-value approach that could cement the damaging segregation patterns that the law was designed to upend.”