People’s World, October 21, 2020, Senate GOP Majority Backs Trump Appointees’ Stand For Redlining
With the GOP holding the majority for the Senate, the party has now followed the interests of President Trump by backing a new rule supports corporate interests and big banks, while returning to racist redlining practices. There is a major push from civil rights organizations to push for a just resolution, and many sight the 42 year old Community Reinvestment Act.
WASHINGTON—By a 48-43 vote, the GOP-run Senate rejected what supporters called a major civil rights bill. The majority, all Republicans, backed a new rule by the Trump-named boss of the agency regulating banks. That rule endorses what labor, Democrats and civil rights groups all called a return to racist redlining.
And if the senators hadn’t bounced the bill, HJRes 90, which would have overturned the pro-redlining rule, GOP White House occupant Donald Trump’s Office of Management and Budget would have recommended he do so. OMB uttered the veto threat after the Democratic-run House passed the bill.
Trump’s opposition to reining in redlining is par for the course with his prejudice against communities of color and with his kowtowing to corporate interests. Bankers and their allies supported junking the redlining ban and junking HJRes 90, which overturned the anti-redlining mandate.
And redlining, Sen, Sherrod Brown, D-Ohio, pointed out, was a key tool to segregate communities of color while taking their money to finance capitalist investments not in depositors’ neighborhoods.