Top bank regulator unaware of discrimination

Politico reports that Joseph Otting, the head of the Office of the Comptroller of the Currency, a federal agency is responsible for enforcing fair lending laws, refused to say directly that discrimination exists, during questioning at a House Financial Services hearing on Wednesday. Among the laws that the OCC oversees is the Community Reinvestment Act, which encourages banks to lend to low- and moderate-income borrowers. Otting wants to to reform that law.

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