Politico, August 9, 2022, Deflating expectations
In public comments on proposed changes to the Community Reinvestment Act, a law aimed at combating racism in lending, groups are pushing the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. to expand the list of climate-related activities that banks can get credit for supporting.
In addition to credit for things like retrofitting affordable housing to withstand future disasters, promoting green space in poorer areas and financing cooling centers, the National Community Reinvestment Coalition wants community solar, microgrids, electrification and water efficiency for residential homes added to the list.
