U.S. banking regulators on Tuesday approved easing fair lending rules for community banks and revising the definition of community investment for all banks to encourage rural development.
The final rule, issued by the Federal Reserve and other financial regulators, was little changed from a proposed rule issued earlier this year.
The final rule alters regulation of the Community Reinvestment Act by raising the threshold for a “small bank” from $250 million to include banks with less than $1 billion in assets.
For this complete story, please visit U.S. Regulators Ease Lending Rules for Small Banks.
