In 2023, The Federal Reserve and other banking regulators announced they were making changes to how they grade banks on servicing local communities. This all stems from a 1977 law called the Community Reinvestment Act, which was designed to encourage banks to better meet the needs of moderate and low-income borrowers. However, major banking trade groups weren't too excited about the new rules and filed a lawsuit against the banking regulators last week.
Today on the show, we explain the history of racist housing policies in the United States and how that history informs the banks' fight with the government today.
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.
2024-12-25 23:23649 view
2024-12-25 23:131967 view
2024-12-25 22:211486 view
2024-12-25 21:412933 view
2024-12-25 21:152401 view
2024-12-25 20:541190 view
WASHINGTON (AP) — President Joe Bidenis commuting the sentences of roughly 1,500 people who were rel
Jean Knight, the R&B and funk singer behind the 1971 hit "Mr. Big Stuff," has died. She was 80."
PORTSMOUTH, N.H. (AP) — A Maine man charged with using social media to threaten to commit a shooting