Brainard lending proposal gets boost in Congressional hearing

Lael Brainard
Federal Reserve

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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