Fed looks to overhaul laws meant to make sure lower-income Americans have access to loans
By David Brancaccio
The Federal Reserve, in its role as bank regulator, has just started the process of modernizing how the U.S. insures that low- and moderate-income people get access to loans. This comes both in the context of how technology is changing the way people get loans and amid the reinvigorated social justice movement in the U.S. The Fed is inviting feedback on how to update the 40-year-old Community Reinvestment Act. Karen Petrou, managing partner of the Washington-based economic consulting firm Federal Financial Analytics, spoke with “Marketplace Morning Report” David Brancaccio about this.