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Otting: Wealthy living in LMI areas may no longer get CRA credit

Tuesday, August 13, 2019   (0 Comments)
Posted by: Amanda Averch
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Regulators may stop giving Community Reinvestment Act credit for loans made to borrowers with medium to high income who live in low-to-moderate income neighborhoods, according to Comptroller of the Currency Joseph Otting. "CRA mortgage lending should be to LMI people," Otting said.

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