WASHINGTON (Reuters) – Two U.S. banking regulators unveiled a proposed overhaul to neighborhood lending requirements on Thursday, kicking off a contentious coverage battle over the correct approach to make sure banks are supporting lower-income debtors the place they do enterprise.

The proposal would supply banks extra particular examples of what kind of exercise qualifies for credit score beneath the Neighborhood Reinvestment Act and provides them extra flexibility by way of the place they interact in that sort of lending.

Guidelines across the CRA, a 1977 regulation which requires regulators to evaluate how properly banks are serving the wants of lower-income communities, have been final up to date in…

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