Following Congressional hearings at which Comptroller Otting became embroiled in disputes over the existence of credit discrimination, the OCC issued a new policy emphasizing its commitment not only to modernizing the Community Reinvestment Act along lines recommended by Treasury, but also using it where appropriate to sanction fair-lending violations. CRA will also sanction certain illegal lending practices, but neither discrimination nor consumer-protection actions now will significantly slow the final CRA determinations necessary to advance merger, acquisition, branch, or similar transactions.

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