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Senate plan helps banks, not the economy

National Community Reinvestment Coalition

The Senate Banking Chairman, Mike Crapo (R-Idaho) has released the bipartisan "Economic Growth" legislation text. The plan would roll back fair lending requirement and allow dangerous banking practices that led to the Great Recession. The bank exempts 85 percent of banks from having to provide better public information about their lending practices. The bill would also weaken protections against predatory lending from the Dodd Frank act.