House Financial Services Committee Chair Maxine Waters (D-CA) proposed amendments to the Community Reinvestment Act in an effort to (i) end modern-day redlining, (ii) root out discrimination in the banking system and (iii) close the gaps in racial wealth and homeownership.
Over 70 Democratic congressional representatives urged banking regulators to finalize amendments to rules implementing the Community Reinvestment Act to "finally end the discriminatory practice of redlining."
The U.S. House Financial Services Committee passed legislation to advance racial equity in the financial system, improve consumer protections against abusive debt collection practices and enhance public company disclosures.
U.S. Senate Banking Committee Ranking Member Pat Toomey (R-PA) proposed a framework to end the conservatorship of the government-sponsored enterprises.
The U.S. House Financial Services Committee considered 26 bills that are intended to remove barriers and biases that limit access to (i) capital, credit and financial services, (ii) fair housing and homeownership, and (iii) leadership opportunities in executive ranks and on boards.