Texas federal judge blocks updated fair lending rules
- A federal judge in Texas on Friday blocked enforcement of new regulations adopted during the Biden administration that sought to overhaul how lenders extend loans and other services to low- and moderate-income Americans.
The Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency last year updated their rules enforcing the 1977 fair lending law, which seeks to ensure banks lend in their local communities. But Kacsmaryk agreed with the business and banking groups who had sued in February in finding the new regulations went beyond what the 1977 law authorized.
Kacsmaryk is the lone active judge in Amarillo, helping make his courthouse a favored venue for conservative litigants challenging federal government policies during President Joe Biden's administration.
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