Brainard lending proposal gets boost in Congressional hearing
The Federal Reserve’s informal proposal to modernise the Community Reinvestment Act received a boost in a committee hearing on January 14, as witnesses attacked an alternative proposal made by other regulators.
Members of the US House Committee on Financial Services applauded Fed governor Lael Brainard’s data-driven approach and encouraged the Fed to push ahead with a formal proposed rule.
The committee hearing comes after two separate proposals were put forward to reform the Community
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