Fed Moves to Overhaul Lending Rules for Poorer Communities

By Andrew Ackerman, Wall Street Journal
Photo Credit: Eric Baradat/Agence France-Presse/Getty Images

WASHINGTON—The Federal Reserve, following an earlier split between banking regulators, took an initial step to rewrite rules for hundreds of billions of dollars in lending and investment in lower-income neighborhoods. Vote marks the latest effort by policy makers to propose new framework for Community Reinvestment Act rules.